ETH price drops to $2,640
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Ethereum Price ForecastCoinGape
•Business
Business & Economics
Ethereum Price Forecast: Whales Spotted Buying $2.5B ETH Amid Two-Week Market Dip
73% Informative
On-chain data reveals that Ethereum whale wallets have accumulated 918,506 ETH ($ 2.5B ) since Feb. 3 .
Whale Wallets have capitalized on the falling price to add over $2 billion to their balances in two-week buying spree which began on Feb 3 .
ETH/USD daily price action data shows that the second -largest cryptocurrency by market capitalization briefly tested a monthly low of $ 2,524 on Feb. 9 before staging a mild recovery.
The RSI ’s downward trajectory, remaining below the 50 -neutral mark, indicates that bears maintain control.
A move below the $ 2,640 support could intensify selling pressure, exposing ETH to a retest of the$2,500 psychological level.
Conversely, a breakout above $2.800 could trigger renewed bullish interest, targeting the mid-January resistance at $ 3,437 .
However, ETH is likely to remain range-bound unless a catalyst emerges.
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