CandleFocus

Ethereum Market Cools Down Amid Declining Whale Activity

The Ethereum (ETH) price is currently in a neutral range, indicated by the Net Unrealized Profit/Loss (NUPL) value. This suggests that most investors are not experiencing significant gains or losses and have a balanced sentiment of cautious optimism and anxiety. The behavior of larger holders and key technical indicators also point to ETH continuing its sideways movement in the short term. The number of addresses holding at least 1,000 ETH is declining, indicating a lack of confidence among whales. This decline in whale addresses suggests that big investors are not accumulating ETH and may be reallocating to other assets or waiting for clearer signals. The ETH chart shows potential support and resistance levels, with resistance at $2,728 and $2,820 and support at $2,308 and $2,150. The presence of these levels and the lack of decisive movement suggest that ETH may continue consolidating before a clear trend develops.

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