In the middle of the notable drop in prices on the cryptocurrency market, Ethereum (ETH) made waves because it drew significant attention from cryptographic investors. The main chain chain analysis company has revealed that whales, investors and long -term holders have accumulated the token.
200 million dollars for Ethereum (ETH) outings
The data has revealed that exchanges around the world have attended a significant value of $ 200 million in ETH token. This substantial outing, in the midst of the feeling of the lower market, refers to a potential accumulation and has the potential to cause strong purchase pressure and an upward rally.
However, this important release of the exchanges began when the Altcoin failed to maintain his Haussier price action model, which he had formed on the daily time.
Current price momen
Ether is currently negotiating nearly the level of $ 2,945 and has dropped by prices of more than 8.90% in the last 24 hours. However, despite the current feeling of the market and the notable decrease in prices, traders and investors showed strong interest and confidence in the token, which resulted in a 90% increase in the volume of trade.
This is the first time that ETH fell below $ 3,000 since the Pro-Crypto Donald Trump has won the presidential election. However, looking at the current price range, Ether seems to be in an ideal fork to buy.
The reason is Trump’s continuous and important investment in ETH when it was negotiated near $ 3,400.
Ether price prediction
According to an expert technical analysis, with the massive drop in prices, the ETH has reached its high support area of $ 2,800.
Based on the recent price action, if Ether is above $ 2,800 level, there is a high possibility that it can rise by 30% to reach the level of $ 3,850 in the future. Conversely, if it does not hold this level of support and closes a daily candle below $ 2,800, we could see a decrease of 20% to the next support in $ 2,250.
This lowered market feeling has pushed ETH into a downward trend, because it is negotiated below the exponential mobile average (EMA) over the daily time.
