Ethereum

Wednesday

Spot

<p class="is-style-lead">Ethereum price rose above $3,000 as bulls reclaimed the psychological level amid a broader crypto bounce on Wednesday.</p>
<p>However, while ETH price reached highs above $3,126, on-chain data shows the cryptocurrency faces a significant hurdle at around the $3,200 level.</p>
<h2 class="wp-block-heading" id="2-million-addresses-traded-eth-at-3-200">2 million addresses traded ETH at $3,200</h2>
<p>According to data IntoTheBlock shared on Wednesday via X, the $3.2k level could be a key level to watch short term as roughly 2 million addresses traded ETH at that price. These addresses are currently in loss and may be looking to sell.&nbsp;&nbsp;</p>
<p>In May, the Ethereum price struggled between the $2.8k and $3.35k range before positive news helped buyers to break higher. IntoTheBlock analysts see a similar scenario unfolding, noting that bullish news could prevent a downward flip for ETH. It’s a project that other analysts have pointed to, with the Ethereum ETF expected to catalyze further gains.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Ethereum has reclaimed $3,000 but faces significant resistance around $3,200. <br><br>Approximately 2M addresses that traded <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> at this level are now at a loss, potentially ready to sell as they break even. <br><br>Bullish news can prevent this—could the Ethereum ETF be the catalyst for… <a href="https://t.co/bymYgYPd0H" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/bymYgYPd0H</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1810999154761470244?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The imminent approval for Ethereum ETFs to start trading is set to boost institutional interest, while exchange supply for ETH keeps shrinking.</p>
<h2 class="wp-block-heading" id="whale-withdraws-50-million-in-eth-from-exchange">Whale withdraws $50 million in ETH from exchange</h2>
<p>On Monday, Spot On Chain <a href="https://x.com/spotonchain/status/1810850804754174371" target="_blank" rel="noopener noreferrer nofollow">shared</a> that a whale or institution had withdrawn 16,449 ETH worth over $50.3 million from the Binance exchange.</p>
<p>The whale withdrew their Ether from the exchange as the price of Ethereum recovered above $3,000. This happens to be a trend seen with ETH whales in recent weeks.</p>
<p>Notably, this appeared to be the whale’s first large accumulation of Ether. The entity or individual has moved all their ETH tokens to a new wallet to hodl.</p>
<p>While there have been major moves by whales offloading from exchanges, there have also been notable deposits. According to Whale Alert, an unknown wallet just <a href="https://x.com/whale_alert/status/1811022683959620017" target="_blank" rel="noopener noreferrer nofollow">transferred</a> 8,909 ETH worth over $27 million to Binance.</p>
<p>Another address also moved 11,069 ETH worth over $34 million from an unknown wallet to Coinbase earlier in the day.</p>
<p>Despite this, Crypto Tony <a href="https://x.com/CryptoTony__/status/1810983804997169505" target="_blank" rel="noopener noreferrer nofollow">says</a> the move above $3k is crucial for bulls. Ethereum price currently hovers around $3,117.</p>

Ethereum reclaims key level but faces resistance at $3.2k

목차

crypto.news

2024년 7월 10일에 게재된 다른 기사

Breaking: BitMEX Pleads Guilty To Bank Secrecy Act Offense

Doja Cat's X Account Hacked: $1.63M Lost in Crypto Scam

70 Million XRP in 24 Hours, What's Happening?

Flipster Launches Trading Competitions with 150,000 USDT worth of prizes to Celebrate 1st Anniver...

Impact of Chain Abstraction on Web3 Adoption: Insights from Arcana Network’s Latest Developments

Polygon Whales Offload Millions At a Massive Loss – Is MATIC Price in Danger?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!