Ethereum

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Neiro Ethereum

Ethereum’s price has experienced a notable rise today, yet recent activities by significant holders, commonly known as “whales,” have stirred apprehension in the market. These big investors sold around $60 million of Ethereum (ETH) on exchanges like Binance and Coinbase. Some view this move as a sign that cryptocurrency may face pressure in the future.&nbsp; 
One notable whale, linked to the wallet address “0x435…913ab,” transferred 10,000 ETH ($26.1 million) to Binance. At the same time, another whale associated with the wallet address “0x968…3c625” sent 12,675 ETH ( $33.10 million) to Coinbase. These substantial transfers have fueled speculation about a market downturn. 
Despite the price surge today, experts are cautioned regarding Ethereums short-term outlook. Crypto analyst Peter Brandt pointed out a completed 5-month rectangle pattern and an ascending wedge on the Ethereum intraday chart.&nbsp; 
He suggests a drop in price to $1,651 if these patterns play out – a decrease from current levels. Brandt acknowledges that such patterns are more unreliable than half of the time, emphasizing the nature of this prediction. 
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Moreover, he mentioned that if the price of Ethereum surpasses $2,961, he plans to close his position, hinting at a change in his approach. The sentiment among investors varies as Ethereum’s price lingers at different levels.&nbsp; 
Investor sentiment is varied with Ethereum’s price fluctuating around key thresholds. The cryptocurrency has recently increased by 1.72% to a value of $2,609.&nbsp; 
However, its trading volume over the past 24 hours has decreased significantly, by approximately 41% to $9.28 billion. This instability, combined with recent significant transactions by whales, continues to drive active debates regarding Ethereum’s market direction. 
On another note, optimism surrounding the approval of an Ether exchange-traded fund (ETF) has boosted confidence in the market. Vance Spencer, one of Framework Ventures’ co-founders, recently shared his belief that an Ethereum ETF could attract half of the influx seen in Bitcoin ETFs.&nbsp; 
The increase in Ethereum’s price today coincides with holders’ activities and mixed market sentiments. This cryptocurrency’s short-term outlook remains uncertain as analysts and investors closely observe price levels and market trends.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/16/neiro-ethereum-neiro-soars-over-1000-in-a-week/" target="_blank" rel="noreferrer noopener">Neiro Ethereum ($NEIRO) Soars Over 1000% in a Week</a> 
</blockquote>

Ethereum Price Faces Volatility as Whales Offload $60M ETH

The Crypto Times

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