Amid global economic disruptions, the cryptocurrency market faces instability. However, Ethereum maintains its position, staying above the $2500 mark.
Resistance Remains a Barrier
Ethereum experienced a modest rally in April, but by mid-May, this strength faded. Since then, the price has fluctuated in a narrow range, remaining between support and resistance levels.
Despite briefly moving above the $2700 resistance, the price could not hold and quickly slipped back into its range. The $2500 level continues to act as a floor for the price, showing strong underlying support.
ETH Outpaces BTC Despite Turmoil
In a volatile market, Ethereum has actually outperformed Bitcoin. Analysts note that ETH managed to gain 40% compared to BTC between May 8 and 13, rising from 0.0186 to 0.026.
Since then, Ethereum has consolidated between 0.0226 and 0.0261, indicating its strength in the face of worsening market conditions.
Large Investors Accumulate Ethereum
Analysis shows that large investors are actively accumulating Ethereum. One whale wallet purchased 3000 ETH for $7.48 million, and over four days the same address bought 11500 ETH, spending close to $29 million.
Additionally, high purchasing activity was reported, with more than 871,000 ETH added to the network on June 12, marking the highest daily inflow since 2017.
Currently, Ethereum remains range-bound, but technical signals hint at potential strength. If the Middle East crisis eases, ETH could emerge as one of the first assets to rally.
