Analyzes the behavior of major investors (whales) and the formation of Ethereum's price to understand current market trends.
Two Types of Whales in the Ethereum Market
The Ethereum market is currently influenced by two distinct groups of whales. Mega whales, holding over 10,000 ETH, accumulated more than 2 million ETH in August, although their activity has slowed recently. Meanwhile, large whales holding between 1,000 and 10,000 ETH have resumed purchasing, adding about 400,000 ETH over the past month.
Current Price Levels of Ethereum
At the time of writing, the price of Ethereum was $4,420. The trading volume over the last 24 hours stood at $31.6 billion, with a 1% increase for the day but a 4% decrease over the past month. Analysts note that the current balance between whales may determine the next market movements.
Key Support and Resistance Levels
According to experts, Ethereum failed to break through the $4,500 resistance level, which remains a crucial barrier for further growth. Key support levels are $4,274 and $4,213. A drop below these levels may trigger additional downside, while additional support is seen in the $4,080 to $3,600 range.
The dynamics of the Ethereum market continue to be influenced by the actions of major investors, making the analysis of whale behavior essential for predicting future price movements.
