The cryptocurrency market is showing significant potential ahead of the inauguration of President-elect and crypto advocate Donald Trump, scheduled for January 20, 2025. The recent activity of major crypto players over the past week is drawing considerable attention.
Whales' Purchase of ETH
A notable crypto expert recently posted on social media revealing that whales have purchased over a billion dollars worth of Ethereum (ETH) in the past week. The expert stated that more than 330,000 ETH, valued at over $1 billion, has been acquired by these crypto whales. This large accumulation of ETH suggests a strategic move to capitalize on the anticipated impact of Trump's inauguration on the crypto market.
Current Price Momentum and Market Participation
Currently, ETH has crossed the $3,500 mark and is trading near $3,515. It has experienced a price surge of over 5.5% in the past 24 hours. During the same period, significant traders and investors have led to an 11% jump in trading volume.
Ethereum Price Action and Key Levels
With the impressive price surge, ETH has once again reached the crucial resistance level of $3,500, where it previously experienced a reversal. According to expert technical analysis, if ETH breaches this resistance level and closes above $3,550, there is a strong possibility it could rise by 15% to reach $4,100 in the coming days.
In summary, the cryptocurrency market, particularly Ethereum, is poised for potential growth ahead of an important political event. Financial experts predict that if current trends persist, we might see further price increases in the coming days.