Cryptocurrency market continues to face intense fluctuations, but data indicates that large investors are accumulating Ethereum (ETH). In the past 48 hours, whales have purchased around 1.1 million ETH worth $2.4 billion. This buying pressure may drive Ethereum’s price towards higher levels. However, Ethereum remains in a downward range, currently trading at $2,200, 42% lower than last year. Some analysts believe this trend is part of an accumulation phase that could eventually lead to a price increase. Historical patterns also show that Ethereum performed well in the first three months of the bullish cycles in 2017 and 2021, suggesting a potential repetition this year. Market analysts predict Ethereum could reach $9,000 later this year. Additionally, the outflow trend of ETH from exchanges over the past four days has been negative, indicating investors are transferring assets to personal wallets, which could alleviate selling pressure and support ETH price growth. However, the $2,100 level is considered a key support range. Analysts emphasize that maintaining this level is crucial for the continuation of the uptrend. If this support holds, the likelihood of a significant Ethereum price increase in the coming weeks will be higher. Visit the live digital currencies price page to track token and cryptocurrency prices in real-time.
