12 hour ago
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Ethereum Price Set for 9-16% Move Amid Bullish Divergence
The price of Ethereum has decreased by 3.5% on December 11, dropping below $3,200 amid a broader market sell-off following the Fed rate cut announcement.
Potential Ethereum Price Volatility
- Analyst Ardi highlights a "Bullish Divergence" pattern for Ethereum, indicating possible price movement between 9-16%.
- Historically, this pattern has led to significant swings in both directions.
- The last occurrence of this signal resulted in notable price movements in September, October, and November.
Whale and Institutional Activity
- A whale, known as "1011short," increased its long position to 120,094 ETH, valued at $392.5 million, showing confidence in an upward trend.
- BitMine Technologies recently purchased an additional 33,504 ETH worth $112 million, aiming for significant Ethereum holdings.
Despite market volatility, inflows into spot Ethereum ETFs have been robust, surpassing $250 million this week, according to Farside Investors.