In the period when the price of bitcoin faces a massive bearish heat, Ethereum is experiencing an extended bearish action. The price is hard compared to that of the starry token, which raises enormous concerns concerning the next price action. In addition, at the time when the second largest token was broken down on the support held for almost 3 years, the Prix de l’ETH has a hidden divergence. Therefore, it could be the right time to buy Ethereum, because the price is close to launching a strong upward trend soon.
Accumulation of whales at its peak
The whales would have become extremely active as the markets collapse under the Pivot beach. Capitalization is struggling to maintain itself above 2.6 billions of dollars, it seems that it is the right time for the whales to accumulate. Consequently, the accumulation of whales has reached its peak, finding the levels nearly 2000 ETH. A popular crypto analyst, Crypto Rover, underlined the similarities between the current accumulation and the previous one.
In 2017, the addresses containing ETH tokens between 10k and 100k began to accumulate ETH, which pushed the price to new peaks. Meanwhile, a similar accumulation was observed in July 2020 before the Bull Run 2021; However, the levels remained restrictive in a fork. However, a similar peak has occurred lately, which suggests that another Bull Run could be on the horizon.
Ethereum price analysis (ETH): is it going to $ 1,500?
Ethereum price volatility has increased since the beginning of 2024, which has constantly pushed the price to $ 4,000 several times since then. Unfortunately, the bears that capitulated the beach limited the rally below the beach, triggering a massive withdrawal. Meanwhile, the price has now lost crucial support, which suggests that more fall could follow the ETH price rally.
After breaking the ascending support he had been holding since July 2022, the token faces bullish pressure and equal hideouts. The weekly candles have almost formed a Doji candle, which suggests that a major price action could follow. Meanwhile, the Superrend has become a lowering since the beginning of the month, which suggests that the price can remain under down pressure throughout the month. However, the weekly RSI is about to reach the lower threshold, and therefore a rebound could be expected.
Consequently, the weekly closing to come could have a massive impact on the next price action while the Ethereum (ETH) price continues to negotiate at a crucial stage.
