Ethereum

Ethereum (ETH) is facing the decisive level at $2,300 after testing the significant support area. Crypto analyst <a href="https://x.com/ali_charts/status/1843392605486510590" rel="noopener noreferrer nofollow">Ali</a> suggested that if the bulls manage to defend this level, they can propel the price to $6,000. But if this support is removed, a 30% price drop to $1,600 might occur.Crypto analyst points to this level of $2,300 as crucial, where 52.65 million of <a href="https://cryptotale.org/ethereum-staking-yields-may-exceed-us-rates-by-2025-report/" rel="noopener noreferrer nofollow">ETH</a> were bought by approximately 2.77 million addresses. This is viewed as Ethereum’s most grounded fundamental. If it holds at this level, investors may be able to see a massive price bounce back. However, the whale sell-off that continues to persist causes fears over Ethereum’s price stability. At the time of writing, Ethereum was priced at <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">$2,426</a> with a market capitalization of $292 billion, down by 1.2%.<h2 id="header-0">Whale Selling and Market Sentiment</h2>A primary cause of Ethereum’s price decline is the selling pressure that comes from these big Ether holders commonly referred to as <a href="https://cryptotale.org/whale-offloads-neiroeth-for-neiro-after-1-49m-loss/" rel="noopener noreferrer nofollow">‘whales’</a>. According to the data obtained from Spot On Chain, an Ethereum ICO whale has been moving a significant amount of ETH to Kraken exchange. This particular whale has transferred 45,000 ETH in the last 15 days which is equal to $113.3 million. The average price for these was approximately $2,517. Despite this substantial sell-off, the whale still holds 94,450 ETH, worth about $230 million.<a href="https://cryptotale.org/eth-faces-2-3k-support-test-2-77m-addresses-buy-52-65m-eth/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

ETH Faces $2.3K Support Test, 2.77M Addresses Buy 52.65M ETH

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