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- Ethereum has been down 3.12% in the last 24 hours.
- The purchasers ultimately succumbed to the pressure at the $2150 level.
Since last week, the Ethereum (ETH) price has fallen sharply below the support level of $2165. There were 39 percent drops in less than a week for the altcoin, and the latest collapse might lead to much more losses. As a result, it’s important to see whether or not sellers are prepared for another drop in the price of ETH.
On May 11th, the Ethereum (ETH) price broke through $2450 resistance and corrected to $1800 support, where it has been since. It also reported a 27 percent markdown on the price of Ether as the market action began to coil up.
Despite their best efforts, the purchasers ultimately succumbed to the pressure at the $2150 level and surrendered. So the price of Ethereum went into a zone of consolidation with $1950 as the last level of support, only to rise and cross the $2K mark. The bullish consolidation breakthrough will release the trapped momentum and propel the prices up to the next barrier at $2250, the next significant resistance level.
🚨 🚨 10,900 #ETH (22,510,559 USD) transferred from unknown wallet to #FTXhttps://t.co/nHdTAjxDFm
— Whale Alert (@whale_alert) May 16, 2022
Whale Alert examines and interprets data from many blockchains before being stored in a single standard format in its databases. FTX has received 10,900 ETH from an unidentified whale using an anonymous wallet. In addition, the transaction was valued at $22,510,559 by Whale Alert, blockchain analytics and surveillance firm.
Crypto whales have moved hundreds of millions of dollars of ETH dollars overnight. According to data from Whale Alert, the transaction took place on Monday, September 6th, 2021, at around 04:51:56 UTC. Moreover, as per CMC, the Ethereum price today is $2,019.83 USD with a 24-hour trading volume of $19,486,377,116 USD. Ethereum has been down 3.12% in the last 24 hours.