IntoTheBlock: Approximately 3.56 million ETH were purchased between $1843-1900, potentially forming a strong support level
ChainCatcher reports that, according to IntoTheBlock analysis, on-chain data indicates a significant support area for Ethereum (ETH) below $1900, with approximately 3.56 million ETH purchased between $1843 and $1900.
This large-scale accumulation suggests strong support in this price range. However, if the ETH price breaks through this range, the market may face capital flight risk as demand outside of this level is noticeably weaker.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Terminal Finance: Project shuts down due to delays in the Converge chain, protocol codebase to be open-sourced later
Cathie Wood remains optimistic about bitcoin's $1.5 million price target
Trending news
MoreCrypto prices
More
