🔥💫✨️ Ethereum (ETH) Whale Stability Signals Calm Before Potential Major Move
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Ethereum has been showing signs of renewed strength, gaining 14% over the past seven days. Despite the recent rally, Ethereum has been trading below the $1,900 mark since April 2, highlighting the importance of key resistance levels ahead.
Whether Ethereum can reclaim higher ground or faces renewed selling pressure will likely depend on its next moves around major support and resistance zones.
💫 Ethereum Whales Hold Steady: What It Means for Price
The number of Ethereum whales wallets holding between 1,000 and 10,000 ETH currently stands at 5,458.
This figure rose slightly from 5,442 on April 21 to 5,457 on April 23, and has remained stable around this level for the past four days.
The recent stabilization suggests a pause in accumulation or distribution activity among large holders, offering a potential signal that the market could be waiting for a catalyst before making its next significant move.
Tracking Ethereum whales is critical because these large holders can have an outsized impact on price movements. When whale numbers rise, it often signals confidence and potential accumulation, which can be bullish for price.
Conversely, a declining whale count might suggest selling pressure ahead.
With the number of Ethereum whales holding steady around 5,458, it could imply a neutral stance among major players neither aggressively buying nor selling potentially leading to reduced volatility and range bound price action until a clearer trend emerges.