Whale splurges $77.2 million to bottom-fish Ethereum! Will ETH trigger a frenzy?
Big whales are on the move, with an average price of $32,000 sweeping in 22,919 ETH, with a short-term hit rate as high as 84%, and profits reaching $4.57 million! This precise bottom-fishing directly hits the market's psychological bottom line, and the whales' confidence is at an all-time high, but will retail investors dare to chase?
Currently, the ETH price is consolidating above the key support level of $3,300, aiming to break through the resistance level of $3,400. But don't celebrate too early, as the 4-hour chart shows that the resistance at $4,052-$4,097 is like a brick wall, and a breakthrough requires more funds to flow in. Market sentiment is neutral, with the MFI (Money Flow Index) reported at 51.11, not yet reaching overbought or oversold territory, but this is just the calm before the storm!
If ETH can break through $3,400 with strong volume, volatility may soar, and the rebound target will aim for even higher resistance levels. Otherwise, the short-term observers may end up laughing last. Can this whale's crazy gamble bring about a real bull market celebration? Let’s wait and see!
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