CandleFocus

Will Historical Trends Push Ethereum Price to New Highs this December?

Author: Content Editor
The price of Ethereum experienced a significant drop of 12.8% to fall below $3,500 due to Bitcoin struggling to stay above $100,000 and a large liquidation across the crypto market. Despite the pullback, there has been an increase in accumulation by a prominent crypto whale, suggesting the potential for a bullish reversal. The global crypto market cap is currently at $3.6 trillion with a 7% intraday loss, and the 24-hour trading volume is $483.2 billion. The whale added 1,800 ETH to their portfolio, increasing their holdings to 39,600 ETH valued at around $99 million. Their average purchase price for ETH is $2,487, giving them an unrealized profit of approximately $54 million. Historically, such accumulation has signaled a bottom and subsequent rebound for Ethereum. The current price of ETH is at $3,682 and is testing a breached trendline as support. December has historically shown mixed performance for Ethereum, with both gains and losses, but it tends to lean slightly toward the bullish side with an average growth return of 7.95%.

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