Ethereum

Rally

Strong

Bitcoin

<ul>
 <li><strong>At the time of writing, ETH is trading at $2242, down 0.53% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go past $2270 level then it will likely retest $2311.</strong></li>
</ul>
<p>Whales now possess a larger share of Ether than a year ago, according to IntoTheBlock. Recent reports suggested a significant growth in the holdings of <a href="https://thenewscrypto.com/ethereum-rallies-as-crypto-market-witnesses-strong-bullish-momentum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> whales. An increase from 32% in January to about 35% was shown by the figures.</p>
<p>There has been a noticeable rising tendency over the last several months. And the proportion of whale ownership has increased from 34% in August to above 38% recently.</p>
<p>Inflows into digital asset investment products reached $1.7 billion over nine straight weeks, the greatest spike since late 2021. With a total of $1.6 billion so far this year, <a href="https://thenewscrypto.com/bitcoin-crosses-44k-amidst-golden-cross-buzz-whats-next/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> garnered over $1 billion in monthly inflows in November. Ethereum too had $126 million in inflows, indicating a major shift in sentiment.</p>
<p>Lido Finance, the market leader in Ether liquid staking protocols, had a nearly 7% increase in its total value locked (TVL) over the previous week. This was likely caused by a spike in staking deposits on the protocol and an increase in the prices of ETH and MATIC. DefiLlama statistics indicated that Lido’s TVL increased by 25% in the past month, reaching roughly $21.32 billion.</p>
<h3 class="wp-block-heading" id="h-minor-correction-underway">Minor Correction Underway</h3>
<p>At the time of writing, ETH is trading at $2242, down 0.53% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 33.86%. The price recently reached $2311 level where it faced severe selling pressure by bears. This was followed with a minor correction.</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/2023/12/ETH_7D_graph_coinmarketcap.png" alt="" class="wp-image-87008" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap-300x181.png 300w" 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 $2270 level then it will likely retest $2311 resistance level. However, if the bears drive the price below $2228 then it will likely test $2194 support level.</p>

Ethereum Price Faces Brief Correction Post Recent Strong Rally

Table of Contents

TheNewsCrypto

Autres articles publiés le 7 déc. 2023

FDUSD Terus Tumbuh Sejak Dimanjakan Binance, Kalahkan USDD

A chat with Segun Adeyemo about SAVA and pioneering growth as a service for African startups

Binance Coin Encounters Resistance At Its Recent High Price

BitTorrent Price Prediction 2024, 2025, 2030: Will BTT Price Record 3X Surge This Year?

Sea Summit has 6000+ Enthusiasts for a Luxurious Voyage of Crypto Victory

Cardano News: Cardano (ADA) Defies Broader Market Consolidation With 7% Gains, What’s Next?

Join our free newsletter for daily crypto updates!