Can Ethereum Break Through $2,200 Threshold?
The post Can Ethereum Break Through $2,200 Threshold? appeared on BitcoinEthereumNews.com.
Market experts indicate that Ethereum (ETH) may begin a new upward trajectory if it can reclaim the crucial $2,200 mark. Following a dramatic 51% drop from its peak of $4,100 in December 2024, the prognosis for recovery hinges on surpassing this key price level. Rekt Capital, a notable market commentator, emphasizes that regaining the range between $2,196 and $3,900 will be pivotal for ETH’s future. Notably, large stakeholders appear to be increasing their ETH holdings during this challenging period. Are Whales Buying While Smaller Players Sell?What Does Wallet Data Reveal? Are Whales Buying While Smaller Players Sell? According to Nicolai Sondergaard from Nansen, large ETH backers are taking advantage of lower prices to accumulate assets. In March, whales holding between 10,000 to 100,000 ETH consistently purchased more, contrasting with smaller investors who are selling off their positions. This dichotomy suggests a shift in market dynamics, with larger players potentially positioning for future gains. What Does Wallet Data Reveal? Data from Glassnode reveals a slight uptick in the number of wallet addresses containing at least $100,000 worth of ETH, increasing from 70,000 to 75,000 in March. However, this figure is down significantly from over 146,000 when prices soared above $4,000 in late 2024. Analysts attribute this decrease to wider macroeconomic uncertainties and ongoing global trade tensions, which may continue to affect Ethereum and the broader cryptocurrency market in the upcoming weeks. Large investors are actively accumulating ETH despite price declines. Wallets with significant ETH investments are declining compared to last year. Market conditions remain cautious due to economic uncertainties. The number of open positions in Ethereum has surged to record levels in March, signaling investor optimism for a swift rise past the $2,200 barrier. Despite positive news, such as the SEC’s dismissal of the Ripple case, substantial upward momentum for the…
Filed under: News - @ March 24, 2025 6:21 am