Ethereum’s price has been a rollercoaster lately. After a big drop last week, from $3,150 to $2,150 in just two days, it’s been struggling to get back above $2,800. Many investors are worried, especially after that huge sell-off.
Retail Investors vs. The Whales
While smaller investors are selling off in a panic, something interesting is happening behind the scenes. Big players, the so-called “whales,” have been quietly buying up a massive amount of ETH – over 600,000 in the past week! This shows a big difference between how big investors and small investors are viewing the situation. The whales seem to think ETH is a good deal at the current price.
A Potential Turning Point?
This whale activity could be a sign that the market is about to turn around. If Ethereum can break through the $2,800 and $3,000 resistance levels, it could signal a significant price increase. The $3,000 mark is especially important because it aligns with the 200-day moving average, a key indicator of long-term price trends.
Key Price Levels to Watch
Right now, Ethereum is trading around $2,620. Breaking above $2,800 and $3,000 would be a very positive sign, suggesting a shift from the downward trend. However, if it falls below $2,600, things could get worse. The next few days will be crucial in determining which way the price goes. Everyone is watching closely to see what happens next.
