๐ Ethereum Storm: Is the Bottom Near? ๐
$ETH
is testing its yearly lows after a nearly 23.5% drop in June. Here is whatโs happening behind the scenes:
๐ Whales in the Red: Large ETH holders are facing unrealized losses for the first time since 2019. Historically, whales being this deep in the red often signals a market bottom.
๐ผ Institutional Buying: Seizing the dip, some institutional firms have started aggressively accumulating ETH again for the first time in 8 months.
๐ The Pressure: Ongoing Spot ETF outflows and macroeconomic risks continue to weigh heavily on the price.
๐ฏ Key Levels to Watch:
Support: $1,500 (The ultimate stronghold)
Resistance: $1,710 - $1,750
๐ Do you think the $1,500 support will hold, or are we going lower? Let me know below!
#Ethereum #Binance #TechnicalAnalysis #Write2Earn rite2Earn
$ETH
is testing its yearly lows after a nearly 23.5% drop in June. Here is whatโs happening behind the scenes:
๐ Whales in the Red: Large ETH holders are facing unrealized losses for the first time since 2019. Historically, whales being this deep in the red often signals a market bottom.
๐ผ Institutional Buying: Seizing the dip, some institutional firms have started aggressively accumulating ETH again for the first time in 8 months.
๐ The Pressure: Ongoing Spot ETF outflows and macroeconomic risks continue to weigh heavily on the price.
๐ฏ Key Levels to Watch:
Support: $1,500 (The ultimate stronghold)
Resistance: $1,710 - $1,750
๐ Do you think the $1,500 support will hold, or are we going lower? Let me know below!
#Ethereum #Binance #TechnicalAnalysis #Write2Earn rite2Earn