Ethereum

“<a href="https://en.coin-turk.com/ethereums-performance-amid-secs-lawsuit-against-binance-what-to-expect/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a>, the second largest cryptocurrency in the world, with a market value of $189.1 billion, is currently trading at $1,572, a 0.92% decrease in the last 24 hours. On-chain data shows that large Ethereum whales are accumulating.”
<h2 style="text-align: justify" id="strong-ethereum-whales-are-at-work-strong">Ethereum Whales Are at Work</h2>
<a href="https://en.coin-turk.com/significant-increase-in-ethereum-accumulation-as-whales-stake-eth/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ETH</a> has been under selling pressure for a while and is struggling to surpass the $1,600 resistance. However, Ethereum whales seem to be making the most of this opportunity. According to on-chain data provider Santiment, the amount of ETH in Ethereum millionaire wallet addresses has reached the highest level in the past 7 years.
Whale-level wallet addresses holding 1 million or more ETH on the Ethereum network hold 32.3% of the total supply. This signifies the first time such a significant concentration has been observed since 2016. Additionally, transactions exceeding $1 million saw the second highest daily volume in the past five weeks. Santiment reported that all these developments are a sign of a historic period for Ethereum. According to market observers, this could be an indication that Ethereum whales are preparing for a pump.
<img decoding="async" class="aligncenter size-full wp-image-267642" src="https://coin-turk.com/wp-content/uploads/2023/10/Altcoin-Krali-Ethereum-ETH-Balinalari-scaled.jpeg" alt="" width="2560" height="1662">
Recently, the co-founder of Ethereum, Vitalik Buterin, sending large amounts of ETH to cryptocurrency exchanges caused a lot of controversy. This situation kept ETH’s price under selling pressure for a while, but Buterin recently stated that the coin/token sales were only for charity and donations.
<h2 style="text-align: justify" id="strong-eth-price-analysis-strong">ETH Price Analysis</h2>
ETH’s price recently bounced from $1,533 and is currently trading at $1,572. The first obstacle in front of the largest altcoin is the 50-day Exponential Moving Average (EMA), and this obstacle makes it difficult for the $1,686 resistance to turn into support.
<img decoding="async" class="aligncenter size-full wp-image-267643" src="https://coin-turk.com/wp-content/uploads/2023/10/Ethereum-ETH-Fiyat-Grafigi.png" alt="" width="1804" height="808">
However, as indicated by the Relative Strength Index (RSI), there is still potential for ETH’s price recovery. The RSI is moving around the neutral zone of 50, but a certain amount of upward movement in the price can push it from the neutral zone to the bullish zone, providing a significant bullish signal. In the worst-case scenario, if the expected rise does not happen and $1,533 is broken, the price of the altcoin king could drop below $1,500. Continue Reading: <a href="https://en.coin-turk.com/ethereum-whales-prepare-for-pump-at-the-highest-level-in-the-last-7-years/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/ethereum-whales-prepare-for-pump-at-the-highest-level-in-the-last-7-years/</a>

Ethereum Whales Prepare for Pump! At the Highest Level in the Last 7 Years!

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