ETH Whale Accumulates Amid Market Downturn 🐋
Recent price movements have seen Ethereum facing a significant downturn, breaching the critical $3,000 support level, causing a 4.76% decline in the past 24 hours. While retail traders are uncertain about their next move, on-chain data reveals an intriguing accumulation pattern by a whale entity with a remarkable investment win rate of 100%.
Smart Money Whale Sees Opportunity Amidst Crash 🐳
The whale recently purchased an additional 2,424 ETH, valued at $7.22 million during the recent price drop. This acquisition brings their total ETH holdings to 19,436, worth $68.25 million, with an average purchase price of $3,511 per ETH since May 29. Despite sitting on nearly $8 million in unrealized losses, the smart money whale has a proven track record of successful trades, providing confidence in their buying strategy.
Strong Support Level Holds Firm 💪
Ethereum’s decline below $3,000 is cushioned by significant on-chain activity, with over 1.7 million addresses accumulating ETH just below this critical level. This robust buying interest indicates $3,000 as a strong support level for Ethereum, potentially halting further losses in the near future.
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