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Binance Seeing Ethereum Whales Outflow: What's Happening?
4️⃣ Ethereum price chart suggests the second-biggest currency is currently in a mixed position. Ethereum's price appears to be consolidating with current support at the $2,900 level. If there is a potential growth scenario toward resistance at $3,400, ETH would need to maintain the current pace. A break beyond that could see Ethereum challenging higher levels, possibly around the $3,650 mark.
5️⃣ However, if support at $2,900 is breached, Ethereum might face a slide toward the next support region near $2,800. Whales' actions, like those possibly associated with Justin Sun, can influence market sentiment, but the price chart suggests a steadiness that may not be easily swayed by individual transactions, regardless of their size.
6️⃣ While the outflows from Binance and market share reduction could be part of a funds redistribution by large-scale investors, Ethereum's technical indicators and support levels remain mixed.
Part 2️⃣
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