Ethereum Whales Buying the Dip: Will Ethereum Price Rally?
The post Ethereum Whales Buying the Dip: Will Ethereum Price Rally? appeared on BitcoinEthereumNews.com.
Recent market activity around Ethereum has generated much attention, especially following a high-profile whale investor’s big Ethereum purchase. For the third time this year, the whale made headlines as they purchased 22,919 ETH for an average of $3,368, which amounts to $77.2 million. A whale bought 22,919 $ETH($77.2M) at an average price of $3,368 again 4 hours ago. Since Aug 12, this whale has made 25 swing trades in $ETH and $WBTC, 21 of which were profitable, with a win rate of 84%, and a total profit of $4.57M.https://t.co/LGiKOWKUqz pic.twitter.com/smncJ2Qnhp — Lookonchain (@lookonchain) December 31, 2024 Whale Activity and Strategic Moves This investor has averaged 1.1 swing trades per day since August 12, with Ethereum (ETH) and Wrapped Bitcoin (WBTC) swing trades, where they racked in an 84% win rate. Of these trades, only 21 returned a profit, for which the whale made $4.57 million. On the contrary, they have been buying dips and benefiting from price fluctuations in the short term, and their latest acquisition attests to their faith in Ethereum’s future ability to perform. That pattern of opportunistic buying continuing during periods of price consolidation or a slight decline, as seen with this latest purchase, is also a common industry trend. The whale’s investment in Ethereum trading in a constricted zone is between $3,306 and $3,375, expecting continued upward price pressure in the near term. But the enthusiasm won’t last unless the broader market conditions and technical resistance levels are favorable. Ethereum Price Current Market State In the last 24 hours, Ethereum has seen slight downward pressure to $3,386, down roughly 1%. This comes during wider consolidation after a big fall early in December. The total cryptocurrency market capitalization is $407.95 billion. – Advertisement – The 24-hour trading volume of $25.39 billion reflects a more than 40% surge…
Filed under: News - @ January 1, 2025 9:11 am