6:12 hours
5
min at reading ▪
Global tension shook the financial market and the crypto was not spared. However, Ethereum (ETH) remained above $ 2,500, which is a strong sign due to the instability of the surroundings.
In short
- Ethereum keeps its course over $ 2,500 despite global turbulence and shows the strength on the weak market.
- ETH develops within a narrow range between $ 2,500 support and $ 2,700 resistance and is waiting for a break.
- Before the ETH crisis, Bitcoin surpassed about 40% and remained stable despite market pressure.
- A clear break over $ 2,700 could cause an increase in around $ 3,000, but caution is still dominated.
Resistance remains the barrier
Ethereum experienced a modest rally in April and gained some dynamics at the beginning. However, this force disappeared in mid -May and since then the price remains stuck within a narrow reach and oscillates between support and resistance.
Although the token briefly exceeded the resistance to $ 2,700, he could not keep this break. The movement quickly erased and the price dropped back to its reach.
Since then, ETH has evolved laterally, with a balance between buyers and sellers. Holding firmly under these conditions indicates a strong basic medium.
The $ 2,500 continues to serve as a floor for the price. This level has already acted as a barrier and a reflection point and is tested again. If he held, it could give hope to the buyer.
ETH is before BTC despite turbulence
While the market remains uncertain, Ethereum actually worked better than bitcoins. The analyst TED pillows stressed that ETH has better performance for weekly graphics. Even with concern for global events, Ethereum managed to take advantage of the benefits.
Before the Ethereum crisis, it clearly exceeds bitcoins. From 8 and 13 May, ETH increased by approximately 40 % against BTC, from 0.0186 to 0.026.
Since then, despite the deterioration of the crisis, Ethereum has remained stable and consolidation between 0.0226 and 0.0261. This resistance illustrates ETH strength and positive development could increase the price.
If this trend continues, more capital can be directed towards Ethereum and other altcoins, which potentially supports higher prices in general.
Great investors accumulate Ethereum
Great investors are already working. The whale portfolio, followed by Lookonchain, bought 3,000 ETH for $ 7.48 million. In four days the same address received 11,500 ETH, spent almost $ 29 million.
Another whale, which previously received more than $ 30 million with ETH, returned to the market and bought $ 37.15 million for a price of $ 2,477 per room.
Glassnode said that almost a week of daily whales have exceeded 800,000 ETH. This purchase of madness brought assets in portfolios with 1,000 to 10,000 ETH to more than 14.3 million chips.
For example, on June 12, the whales have added more than 871,000 ETH, which is the highest daily flow this year. Such intensive accumulation has not been observed since 2017.
Technical configuration indicates caution and opportunity
Recent Ethereum prices indicate a possible increase. Key technical indicators become positive, but the break remains uncertain, while the asset develops within a narrow range.
Note:
- The 50 -day mobile diameter has exceeded this 100 days, signaling medium -term potential forces.
- The price of ETH is located just above two diameters, which indicates a slight bull momentum, but at the moment without a clear break.
- The decisive movement over $ 2,700 is always necessary to confirm the permanent ascending trend.
- The current tranquility of the exchanges indicates growing tensions on the market and cautious investors.
- Maintaining support to $ 2,500 and exceeding resistance could open the road to pull at $ 3,000.
The situation remains uncertain and Ethereum can remain in this range for now. However, technical signals are improving. If the crisis in the Middle East is merging and returning trust, the Ethereum may be among the first to start up.
Maximize your Cointribne experience with our “Read to Earn” program! For each article you read, get points and approach exclusive rewards. Sign up now and start to accumulate benefits.
IFOLOWA specializes in writing and marketing Web3, with more than 5 years of experience in creating bright and strategic content. In addition, it trades in crypt and is qualified in performing technical, basic and chains.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.