Whales are buying at the bottom again. Can Ethereum "whales" turn the tide?
Recently, the Ethereum market has seen eye-catching whale dynamics. A well-known investor bought 22,919 ETH at an average price of $3,368, with a total value of $77.2 million. This is the third time this whale has attracted market attention this year. The winning rate behind its precise operations is as high as 84%, which makes people have to admire it!
Why do whales buy at the bottom frequently?
Data shows that this investor has conducted about 1.1 swing trades per day since August 12, preferring the volatility of ETH and WBTC, and has earned a total of $4.57 million in 21 profitable trades. Their strategy is clear: "buy low" during price consolidation or slight declines, and quickly make profits with the help of short-term rebounds. This increase in positions once again proves their "hard-core confidence" in the future of Ethereum.
In the short term, the price of Ethereum is still hovering in the range of $3,300-3,375. Although bulls are defending key support, the upward momentum still needs market conditions to cooperate. If it breaks through $3,400, it is expected to hit higher resistance levels of $4,052 or even $4,097, but volume is the key variable!
What is the current market situation?
Currently, ETH is trading at $3,300, down about 1% in 24 hours. Although it experienced a sharp correction in early December, it still firmly held the $3,250 support, showing the resilience of the market. At the same time, the 24-hour trading volume surged 40% to $25.39 billion, indicating that the market is preparing for the next "big move".
From a technical point of view, the price of ETH is consolidating in the $3,200-3,300 range, and the 4-hour chart shows that it is still blocked by upward pressure at this stage. However, the Money Flow Index (MFI) shows 51.11, which is neutral and balanced, and the market has not yet entered an overbought or oversold state. This means that external catalysts will be the key to breaking the balance.
The price of ETH shows signs of "accumulating strength" during consolidation. If the trading volume continues to expand and breaks through $3,400, the market is expected to usher in a wave of rebound offensive. On the contrary, if the bullish force fails to continue, the consolidation pressure will continue, and the bears may be ready to move again.
Pay attention to the movements of whales, and you may be able to smell the direction of the next wave of market trends! For more exciting, lock in Jiang Ge and don't get lost!
