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James Wayne opened a long location of 67.5 ETH with 25x financial lever. The ETHEREUM price procedure indicates that ETH can reach $ 4,865 if the level of $ 4,475 is wiped.
It looks like it ethereum [ETH] It is successfully corrected after reaching the highest level at 4,956 dollars and it seems that it is now entering the correction phase.
The benefit of whales and merchants increased, and perhaps because of the optimistic prices on the graph for four hours.
Whale and merchants activity
Recently, prominent Encryption expert Share a post on X, where the encryption whales appear to have shown strong interest in Ethereum.
In the post, the expert has shared that the encrypted whales have bought 260,000 ETH over the past 24 hours.
Source: X (previously Twitter)
Not only that, but a well -followed encryption merchant James Wayne He also returned to the market by opening a long location of 67.5 ETH at a value of 290 thousand dollars with a 25x financial crane.
He put liquidity at 4,205.2 dollars, indicating that James believes that the ETH price will not be less than this level.
However, this prominent accumulation by whales has positively affected the price of ETH, which has regained 4,240 dollars to the current level.
At the time of the press, Ethereum still has decreased by 1.75 % over the past 24 hours, but it is still strong at $ 4,405.
By recovering the strong, traders and investors have shown remarkable interest in the original, which led to an 8 % increase in trading volume during the same period.
Looking at these accumulation numbers and impressive recovery, you may feel that this is the time to buy, or ask whether ETH will face more correction.
Make the price ethereum and the upcoming levels
According to Ambcrypto’s technical analysis, Ethereum seems to be a bullish style on the chart for four hours and prepares to break.
The graph shows that ETH has formed a descending triangular style, as the price is now approaching the narrow area of this composition.
Source: TradingView
Based on modern prices, if Etherum separates from this style and closes a four -hour candle above the level of 4,470 dollars, it may pave the way for a 10 % price jump.
If this happens, the original was not able to re -test it at all, but it is also possible to specify a new one.
Nowadays, automatic moving averages for 15 days and 21 days (EMA) operate with strong resistance levels, where the price is currently hovering below. A step above these levels can lead to an upward outbreak.
Delit scales on the chain
Despite ETHEREM’s bullish expectations, investors and merchants inside the day seem bet on the other side.
Data from the Coinglass analysis tool revealed that traders have been overwhelmed with a level at a level of $ 4,353.1 on the bottom side and $ 442 on the upper side.
These levels also work as major filtering points, as traders have built long jobs worth 235.26 million dollars and $ 720.41 million in short positions.
Therefore, merchants who have a declining look are currently dominating.
Source: Coinglass
On the other hand, investors were found emptying of their ETH possessions.
Coinglass’ Spot SPORNOWOWOW/UPFILOW data revealed that more than $ 88 million of ETH has moved to stock exchanges during the past 24 hours, indicating possible profits after the last price recovery.
However, this disclosure has been much lower than the accumulation in which whales are known for the past 24 hours.
