As we reported at Kriptokoin.com , Ethereum has recently attracted all the attention of the market. Along with Bitcoin’s impressive rally, ETH has also gained momentum and approached a critical resistance level of $ 3,200. However, everyone has the same question in mind: Is this rise permanent? Will Ethereum overcome obstacles on its journey to the top? The answer to these questions largely depends on the moves of whales and long-term investors.
Ethereum Price at the Gate of Resistance Level: Excitement and Tension
Ethereum is finally making a move after months of stagnation. The price has broken out of the boring consolidation zone at $2,700 and has reached $3,200. Things are exciting right now, but they are also dangerous. Technical indicators are pointing to the market being in overbought territory. The RSI has reached 76, suggesting that the price could pause for a while or see a small correction.
But let’s be honest, is everything predictable in the crypto market? Perhaps this overbought signal is a sign that the market is gaining momentum before moving higher. The OBV (On-Balance Volume) indicator shows that there is a serious accumulation of volume. So, this move is not in vain. But the real question here is: will this momentum continue?
Whales’ Ethereum Moves: The Secret Rulers of the Market
Whales are the unseen but felt forces in the market. These big players also took the stage in Ethereum’s recent rally. According to the latest data, whales are accumulating ETH heavily . Is this just a coincidence? I don’t think so.
This movement of whales is usually a sign of confidence in the market. They are experienced players who can foresee where the market is going. If these giants continue to collect Ethereum, it is inevitable that the price will rise even higher. However, things are not always that simple. Whales will put selling pressure on the market after making big profits. So, we need to keep an eye on them.
Long-Term Investors: Calm Power
Long-term investors also played a significant role in Ethereum’s recent rally . This group usually holds on to their assets regardless of the market’s ups and downs. However, some long-term investors have also started selling during the recent rally. This will create some selling pressure on Ethereum’s price.
But the good news is that even these sales did not dampen the general mood of the market. The future of Ethereum (ETH) is still bright. Price action is encouraging for now, but no one can say for sure. The crypto market is full of surprises and the story of Ethereum is still being written.
Expectations and Reality
Ethereum’s rise is exciting, but there are risks along the way. The big players in the market should be watched carefully. If whales and long-term investors maintain their support, Ethereum could see much higher levels. But as always, it is essential to be careful and read market signals correctly. Perhaps ETH will exceed all expectations in this rally. For now, let’s just watch and see what the market brings us.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channel to stay up to date with breaking news !
