Ethereum is trading around $2,547 today and large investors are taking action. A whale bought 48,825 ETH worth $127 million at an average price of $2,605. This occurred during a short dip, indicating strong confidence in ETH's long-term growth.
This buyer is not a new success story. Reports indicate they previously made $30 million from Ethereum trades. Global tension and the expiration of over 242,000 ETH options have caused price volatility, but this move has helped stabilize the market. With a put-call ratio of 1.20 and a maximum pain point of $2,700, traders are closely watching ETH.
ETH Price: What Will Be Next?
Ethereum is trading in a narrow range between support and resistance:
Bullish scenario:
• Entry point: Break above $2,568 and 50 EMA
• Stop loss: Below $2,500
• Target: $2,607 and $2,647
Bearish scenario:
• Entry point: Decrease below $2,518
• Stop loss: Above $2,540
• Target: $2,440 and $2,300
