Will Ethereum Price Hit $1850 As Large Holders Make Major Moves?
The post Will Ethereum Price Hit $1850 As Large Holders Make Major Moves? appeared on BitcoinEthereumNews.com.
Ethereum (ETH) traders have watched closely as large holders began making major on-chain moves this week. The cryptocurrency surged above key resistance at $1,620, reaching a high near $1,705 earlier and then pushing to nearly $1800. Market participants have questioned whether this momentum could push Ethereum to $1,850. However, recent whale transactions and on-chain activity may influence the direction of the price in the short term. Ethereum Surges Past Key Resistance as Price Targets $1,850 Ethereum started a strong bullish movement as it exited its trading range at $1,555 to $1,620. The price exceeded resistance levels to hit its new highest point at $1,705 during this short period. The upward movement occurred after Ethereum traded sideways for several days, thereby developing support to increase. After hitting $1,705, the Ethereum price met resistance near $1,720 and started consolidating above the $1,693 level. Market analysts shared charts indicating a bullish continuation was possible if Ethereum held support above $1,693. A breakdown below this point could open the door for a retest of support zones at $1,660 and $1,620. Market participants continuously observed volume levels to validate enduring buyer participation. Professional analysts predict that if the price surpasses $1,720, it will boost the potential for prices to rise toward $1,850. Source: X Analyzing the ETH/BTC price pair added complexity to the study. The relative value of Ethereum compared to Bitcoin experienced a more than 79% decrease from its highest point in 2021. The trading pair maintained a position close to 0.01835, one of its lowest points during its multi-year history. A change in market sentiment towards Ethereum’s ecosystem and positive feelings towards its network would lead to a potential ETH/BTC relationship. Whale Transactions Raise Concerns Over Short-Term Selling Large holders made several notable transactions following Ethereum’s price surge. A wallet linked to the…
Filed under: News - @ April 26, 2025 3:16 am