On September 11th, Ethereum’s value was put to the test when it dipped to the $1,530 support level. However, promising signs of whale accumulation suggest a brighter future for this altcoin.
Data from Greeks.live reveals that within the last hour, over 40,000
Ethereum’s price managed to breach the $1,620 resistance level. However, it struggles to gather momentum beyond the $1,650 mark, mirroring Bitcoin’s challenge.
A recent alert from Whale Alert raised eyebrows in the crypto world, hinting at Ethereum whales potentially devising an exit strategy. This alert disclosed a substantial transfer of 22,343 ETH.
While ETH’s price may appear stagnant since last September, trading around $1,600, underlying factors like ETH derivatives and network activity could hold the key to the elusive $1,800 milestone. Significant developments under the surface, such as a decrease in Ethereum‘s overall supply and a notable increase in staked ETH, suggest the potential for positive price movement.
In a market known for its volatility, Ethereum’s fate remains uncertain, but the actions of influential whales and developments within the network continue to be closely monitored by investors.
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