Ethereum

FOMC

<ul>
 <li><strong>The price has been consolidating lately after facing severe resistance at $1848 level.</strong></li>
 <li><strong>If the price manages to go past $1848 then it will likely test the $2000 resistance level.</strong></li>
</ul>
<p>The crypto world has taken notice of Vitalik Buterin’s recent action of sending 100 ether (ETH) tokens to Coinbase. On November 1, Buterin sent about $181,000 worth of <a href="https://thenewscrypto.com/will-the-ethereum-bulls-keep-charging-ahead-or-pull-back/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> to Coinbase. Given that Vitalik had earlier said he hadn’t sold any ETH for personal gain since 2018, this decision has been seen as a sign that something big is about to happen.</p>
<p>Some cryptocurrency experts have speculated that the transfer was made for either personal or project-related motives.&nbsp; The true motivation for sending Coinbase 100 ETH valued over $181,000 remains unknown. It is also unclear if this is a one-time occurrence or whether Vitalik would continue selling.</p>
<p>Between Bitstamp, Paxos, and Coinbase, <a href="https://thenewscrypto.com/vitalik-buterin-explores-ethereums-layer-2-landscape/" target="_blank" rel="noopener noreferrer nofollow">Vitalik Buterin</a> has transferred 3,700 ETH, or around $6.12 million, since September 17 of this year.</p>
<p>According to a tweet from Lookonchain, a “whale” earned $1.3 million in two weeks. Before the price of ETH jumped on October 20th, the analytics platform said that the whale paid $8.63M USDT purchasing 5,437 ETH at $1,587. This was followed by the recent sale of 5,436 ETH for $1,827, fetching $9.93M USDC.</p>
<h3 class="wp-block-heading" id="consolidation-phase">Consolidation Phase</h3>
<p>At the time of writing, ETH is trading at $1808, up 0.59% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down 13.20%. The price has been consolidating lately after facing severe resistance at $1848 level.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/11/ETH_1M_graph_coinmarketcap.png" alt="" class="wp-image-84939" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/ETH_1M_graph_coinmarketcap.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/11/ETH_1M_graph_coinmarketcap-300x181.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/ETH_1M_graph_coinmarketcap-150x90.png 150w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go past this level then it will likely test the $2000 resistance level. However, if the bears drive the price below $1763 then price will likely move towards $1635 support level. Further decline will likely see price testing $1550 support area. The upcoming FOMC Meeting outcome will likely act as an catalyst for driving prices in either direction.</p>

Can Ethereum Price Break Above $2000 Post Consolidation?

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