Ethereum Whale Accumulates $422 Million Worth of ETH in Three Weeks
Ethereum Volatility and Market Response
- ETH fell to $2,100 due to geopolitical tensions following a US attack on Iranian nuclear facilities.
- The market reacted positively after Iran and Israel agreed to a ceasefire, leading ETH to rebound over 14% and surpass $2,400.
- A whale purchased $8.91 million in ETH, contributing to a total of $422 million accumulated by the same entity in three weeks.
- Despite the rebound, concerns persist regarding a potential US recession and rising Treasury yields, which may affect risk assets.
- Optimism grows for an upcoming altseason, potentially led by Ethereum.
Technical Analysis
- ETH reclaimed the $2,400 level after a swift recovery from its lows.
- The price is currently facing resistance from the 100-day and 200-day moving averages at $2,638 and $2,779.
- Volume shows signs of recovery, indicating renewed interest in the market.
- A close above $2,600 could lead to a retest of the $2,800 zone.
