CandleFocus

How Did Ethereum Whales Behave in the Recent Drop? What Is the Most Critical Level to Watch for ETH? Glassnode Explained!

The price of Ethereum (ETH) has experienced significant fluctuations recently, dropping to $2,000 before rising to $2,300 ahead of the White House Crypto Summit. On-chain analytics firm Glassnode has revealed that ETH investors have been actively managing their positions by buying the dip and lowering their cost basis by 10% to $3,200. Glassnode also highlighted a major resistance level at $2,800, where investors have accumulated around 800,000 ETH. Moreover, Santiment noted that Ethereum sentiment has reached yearly lows, indicating a potential bullish trend for the cryptocurrency once the market stabilizes.

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