CandleFocus Ethereum (ETH) Targets $2,800 – Major Rally Imminent?
2024-09-19
Author: Content Editor
An Ethereum whale recently purchased 2,117.7 ETH worth $5.17 million as the price surged. This whale had previously been liquidated for a substantial amount during a market crash but appears to be recovering losses with this recent bet. Another whale also bought 5,660 ETH worth $13.1 million, indicating that whales are accumulating ETH and hinting at a potential major rally. Currently, ETH is trading near $2,470 and has experienced a 6% surge in the last 24 hours with increased trading volume. Technical analysis suggests that if ETH closes its daily candle above the $2,485 level, it could soar to the $2,800 level. The ETH long/short ratio stands at 1.027, indicating bullish market sentiment among traders. However, for this bullish thesis to remain valid, ETH must close above the $2,800 level.
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