Ethereum (ETH) fell by 13.6% in last week, largely due to the increase in geopolitical tensions in the Middle East, in particular between Israel and Iran. Despite this recent price collapse, Ethereum whales do not seem discouraged, signaling confidence in long -term recovery of digital assets.
Ethereum whales are not moved despite a recent loss
According to a recent post of cryptochus Reinforcement in cryptocurrency. In particular, the digital asset went from $ 2,869 on June 11 to the range at mid-200 $ 200 at the time of the editorial staff.
Unlike the double high model observed in 2021 – when Ethereum saw a significant increase in transactions outings when the whales came out near the top – current data suggest that whales do not make similar movements.
The analyst shared the comparative graph according to showing that in the previous market cycles, peaks in the withdrawal of the ETH of the portfolios were generally followed by major prices reports. However, these points are currently absent, which suggests a low exit activity.
In a recent article on X, the cryptographic cryptographic analyst pillows added Additional support from this point of view, declaring that Ethereum whales really buy the decline. According to the analyst, the portfolios holding 10,000 ETH or more have collectively added more than $ 265 million ETH during the market decline on June 21.
However, the pillows warned that if the ETH did not exceed the level of resistance of $ 2,350 soon, it could re -examine the support of $ 2,100. Failure to comply with this level could expose the asset to a new drop to $ 1,800.
On the other hand, the Crypto Merlijn trader the merchant offered a more optimistic socket. The analyst compared the current behavior of Ethereum prices to the accumulation phase observed between 2019 and 2021, declaring that “the five -digit ETH is not a dream”, involving a long -term optimistic perspective remains intact.
Are the opposite winds brewing for ETH?
Although technical indicators indicate Towards the increase in the second largest cryptocurrency by market capitalization, some market experts believe that ETH may be about to enter a period of downward trend before resuming its upward trajectory.
For example, the experienced expert in the Aksel Kibar cryptography market recently do This ETH can prepare for a significant period of fashionable movement. The analyst gave a striking warning of the ETH falling perhaps up to $ 900.
Likewise, the increase in sales volume for ETH threat To further disrupt the positive price momentum from digital assets. At the time of the press, ETH is negotiated at $ 2,233, up 2.4% in the last 24 hours.
Star image of Unsplash.com, cryptocurrency charts, x and tradingView.com
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