Ethereum (ETH) is trading around $2,540, while a significant whale purchase has caught attention in the market.

An investor created a large position of approximately $127 million by buying exactly 48,825 ETH at an average price of $2,605. This move occurred during a price drop caused by geopolitical tensions and options expiry, reflecting the long-term confidence of large investors.

It is known that the same whale previously made a profit of $30 million from Ethereum, indicating that their strategy is data-driven and planned.

There has been a general fluctuation in the crypto markets with the increased tension in the Middle East and a decrease in risk appetite. ETH fell by 0.30% in the last 24 hours to $2,509. During the same period, more than 242,000 ETH options expired on the Deribit exchange, and volatility increased.

The put-call ratio hovering around 1.20 and the maximum pain point at $2,700 indicates that the market is still under downward pressure. However, this purchase made by the whale has balanced the current pessimistic atmosphere and revived investor confidence.

Ethereum Technical Outlook: Consolidation Between EMAs

Short-term technical indicators paint a neutral picture for Ethereum. The price is hovering near the 23.6% Fibonacci level and the declining 50-period EMA on the 2-hour chart. The Doji candles seen here indicate that the market is indecisive.

Although the breakout of the rising wedge formation has created selling pressure, momentum indicators are signaling a recovery.

MACD lines are approaching a potential bullish crossover.

RSI is at the 29 level and is close to the oversold zone.

The formation of the 'Three Black Crows', one of the strong signals of a bear market, did not occur.

ETH is still trading below the 20, 50, and 100-day EMAs. However, if the price can regain the $2,550 - $2,580 range, significant bullish opportunities may arise. Otherwise, levels of $2,440 and even $2,300 may come back into play.

Ethereum Trading Strategy: Balancing Risk and Return

Proposed simple trading plan in light of technical indicators and whale movements for new investors:

Bullish Scenario:

Entry: $2,568 (38.2% Fib) and close above the 50-EMA

Stop-loss: Just below approximately $2,500

Targets: The first target is $2,607 (50% Fib), followed by $2,647 (61.8% Fib)

Bearish Scenario:

Entry: Close below the trend line and $2,518

Stop-loss: Above $2,540

Targets: Initially $2,440, followed by $2,300

Conclusion

Ethereum is at a critical technical level. While indicators and price movements signal a pause, whale purchases indicate long-term interest. Especially if the resistance at $2,580 is broken, the chances of prices rising to the $2,650 - $2,700 band will increase. However, losing the current supports may cause the price to drop towards $2,440. These important levels should be closely monitored, and risk management should be meticulously applied.


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