CandleFocus

Ethereum (ETH) Struggles at $4,000, But Whales Continue to Accumulate

Author: Content Editor
Ethereum's price has struggled to surpass the $4,000 mark, showing hesitation among investors and potential profit-taking. However, whale addresses holding significant amounts of Ethereum have been accumulating more, indicating confidence in the long-term growth of the cryptocurrency. The dominance of profitable transactions suggests that many Ethereum holders are sitting on gains, increasing the likelihood of profit-taking. Ethereum's price dropped by 7% and is now attempting to secure a support level at $3,721 to avoid further declines. Securing this support is crucial for Ethereum to break above $4,000 and potentially reach new all-time highs. However, failing to maintain the support could lead to a deeper market correction.

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