Ethereum

Prime

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-surpasses-2600-as-whales-sell-off/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Price Surpasses $2,600 as Whales Sell Off</a> 
The price of Ethereum (ETH) has recently surged, surpassing the $2,600 mark. While the overall trend indicates rising signals, whales, or large investors, sold approximately $45 million worth of ETH on Saturday.
<h2 id="large-eth-transfers-alarm-the-altcoin-community">Large ETH Transfers Alarm the Altcoin Community</h2>
According to Lookonchain data, a wallet associated with Cumberland transferred around $31.88 million worth of 11,800 ETH to the <a href="https://en.coin-turk.com/bitfinex-derivatives-introduces-new-trading-options-for-bitcoin-and-ethereum-volatility/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase</a> exchange. Additionally, ParaFi Capital withdrew approximately $13.83 million worth of 5,134 ETH from the Lido platform, transferring these ETH to Coinbase Prime shortly after.
<h2 id="analyst-predicts-eth-could-reach-20-000">Analyst Predicts ETH Could Reach $20,000</h2>
In the short term, <a href="https://en.coin-turk.com/bitcoin-price-reaches-above-69500/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/latest-crypto-market-analysis-bitcoin-btc-ethereum-eth-and-xrp-coin-review/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analyst Julien Bittel forecasts that Ethereum could rise to $20,000 by early 2025. He noted that ETH could replicate last year’s upward movement based on the 2023 trend and current data.
Bittel shared a chart illustrating Ethereum’s performance from January 2023 to March 2024, indicating that the current trajectory resembles this chart. If this model continues, ETH could achieve significant gains by the end of the year, pushing towards the $20,000 target.
Currently, ETH is trading at around $2,671, reflecting a slight increase of 0.05% in the last 24 hours. During the same period, the price fluctuated between $2,643 and $2,728.
The price chart indicates peaks around $2,700 and troughs near $2,660. Ethereum continues to show resistance at around $2,670 under market pressures.
Despite institutional sell-offs, Ethereum maintains its stability, with a slight price increase observed. The $20,000 target by 2025 appears promising amid market fluctuations, indicating Ethereum’s potential for growth in the short term.
The sell-off activities by large investors in the Ethereum market have the potential to influence overall market trends. These movements by whales are significant indicators for investors and market analysts to monitor closely.
The post <a href="https://en.coin-turk.com/ethereum-price-surpasses-2600-as-whales-sell-off/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Price Surpasses $2,600 as Whales Sell Off</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Ethereum Price Surpasses $2,600 as Whales Sell Off

Table of Contents

COINTURK NEWS

Other articles published on Sep 29, 2024

What is Chain Abstraction: Multi-Chain Usability and Development

XRP Set for Massive Surge—Will SWIFT Push Ripple Over the $1,000 Mark?

PEPE69 Solana Memecoin to Skyrocket 19,000% Ahead of Exchange Listings, As SHIB and DOGE Underper...

Crypto Market Anticipates Upcoming US Employment Data

Fiona: The Original Hippo Meme Queen Now Has Her Own Memecoin – $FIONA

Will Bitcoin Break $70,000 After Its First Bullish Monthly Close Since 2023?

Join our free newsletter for daily crypto updates!