Ethereum Faces Resistance At $3,200 Amidst Market Decline

2024-5-1 01:32

Ethereum encounters a significant barrier at the $3,200 mark, with a substantial number of addresses holding millions of ETH. However, the cryptocurrency is currently experiencing a 5% decline, trading at $3010.

#Ethereum faces a brick wall resistance at $3,200, where 2.43 million addresses hold 5.14 million $ETH. pic.twitter.com/44MEA0Xge3

— Ali (@ali_charts) April 29, 2024

Recent trends in ETF flows indicate a net negative, primarily driven by minor outflows from Grayscale. Despite initial concerns surrounding the halving triggering a ‘sell the news’ event among institutions, data suggests otherwise, with institutional accumulation remaining steady.

Recent trends in ETF flows have shown a net negative, though the outflows have been relatively minor, primarily originating from Grayscale.

Despite concerns that the halving might trigger a 'sell the news' event among institutions, the data suggests these fears were unfounded.… pic.twitter.com/rIZHzMWgK1

— IntoTheBlock (@intotheblock) April 29, 2024

Nevertheless, there is a growing sentiment that a new catalyst is needed to reignite institutional interest in Ethereum.

Multiple Whales Sells Off Notable Amount Of ETH

According to Lookonchain data, several whales have offloaded a significant amount of ETH following the market downturn. Notable transactions include deposits to Binance by addresses 0x4353 and 0x4446, totaling millions of dollars worth of ETH.

6 whales dumped more than 44K $ETH($140M) after the market dropped!

0x4353 deposited 10,431 $ETH($32.66M) to #Binance.https://t.co/3hqVXQvHlu
0x4446 deposited 11,892 $ETH($38M) to #Binance.https://t.co/HvLu7N4DnM
0x488b sold 3,543 stETH($11.23M) at $3,170 and 3,000… pic.twitter.com/93ISSkJWfW

— Lookonchain (@lookonchain) April 29, 2024

Address 0x488b sold stETH and wstETH tokens, while addresses 0x59e9 and 0xC47f made deposits to Coinbase, adding millions of dollars worth of ETH to the exchange.

Grayscale transferred 5,626 $ETH($17.83M) to #FlowTraders 4 hours ago.#Grayscale has transferred $ETH to #FlowTraders 4 times in the past 3 months, totaling 23,178 $ETH($71.3M).https://t.co/SxhLpi2DyY pic.twitter.com/6NLDkUSvDW

— Lookonchain (@lookonchain) April 30, 2024

FTX/Alameda also deposited a substantial amount of ETH to Binance, further contributing to market activity.

In addition, Grayscale transferred a considerable sum of ETH to Flow Traders, marking the fourth transaction between the two entities in the past three months.

Overall, these transactions reflect ongoing market dynamics and highlight the need for a new catalyst to stimulate institutional interest and drive Ethereum’s price forward.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: volodymyrshtun89/123RF // Image Effects by Colorcinch

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3427.66 (+0.34%)
Объем 24H $36.204b
Изменеия 24h: 2.26 %, 7d: 9.76 %
Cегодня L: $3393.39 - H: $3446.97
Капитализация $412.796b Rank 2
Цена в час новости $ 2840.5 (20.67%)

decline ethereum 200 eth holding however millions

Источник: nulltx.com

decline ethereum → Результатов: 126


Ethereum Drops Below $950 On Uniswap Overnight – Here’s Why

Ethereum Key Takeaways: – ETH prices have plummeted below $1300 – Selling pressure intensifies, which triggers the decline. – Dire price forecasts for ETH Having lost about 20 percent of its value over the past 24 hours and hovering around $1,200 on Monday morning, many crypto investors and market observers are prepared for a massive Ether decline back into the triple digits.

2022-6-14 08:52


Фото:

Ethereum Could Form a Massively Bullish Pattern if Bulls Defend Key Level

Ethereum saw an incredibly intense decline yesterday that sent its price plunging to fresh multi-week lows This selloff came about in tandem with the flash crash seen by the entire altcoin market, which may have come about due to XRP’s 50%+ one-day decline Other major altcoins – like Chainlink – posted massive losses that resulted in deep downwards wicks on their candle charts, likely due to on-chain short liquidations ETH is now in the process […]

2020-12-27 01:00


These Key Factors All Point to an Imminent Bitcoin Rally: Analyst Claims

It has been a turbulent past day for the crypto markets, with Ethereum and most other major digital assets all seeing intense selloffs yesterday Bitcoin was able to avoid seeing any intense decline, with buyers ardently defending its price from breaking below $23,000 The buying pressure here has proven to be quite intense and may continue bolstering its price action for the days and weeks to come One analyst is also noting that its mid-term […]

2020-12-27 21:00


Фото:

Why One Analyst Claims This Latest Ethereum Selloff is an Ideal Buying Opportunity

Ethereum and the entire crypto market saw a sharp downturn, with Bitcoin plunging by over 10% while ETH declined towards $500 This selling pressure has been quite intense and may continue hampering the cryptocurrency in the near-term Where it trends in the near-term will depend largely on whether or not bulls can stop it from breaking below $500 A decline beneath this level would strike a serious blow to the cryptocurrency’s technical outlook The coming […]

2020-11-26 23:00


Bulls Beware: Ethereum is Breaking a Crucial Trendline for the First Time in Weeks

Ethereum has seen a couple of sharp selloffs throughout the past day, with bears aiming at keeping it below $600 This comes following a strong move higher earlier this week, which allowed the crypto to rally as high as $623 The selling pressure here was intense and caused it to see a sharp decline, from which point forward it has been consolidating Where it trends in the mid-term will largely depend on its continued reaction […]

2020-11-26 00:00


Фото:

Ethereum Could Target $850 Once It Breaks Key Resistance, Claims Analyst

Ethereum has flashed signs of immense strength despite a fleeting overnight selloff This recent decline came about in tandem with that seen by the rest of the crypto market Bitcoin plunged below $18,000 before posting a “V-shaped” recovery and rallying significantly higher This recovery also helped lead ETH higher, with the cryptocurrency rapidly navigating back up to where it has been trading throughout the past couple of days Its recent strength and unwavering uptrend indicate […]

2020-11-23 01:00


Here’s Why Ethereum’s Overnight Plunge May Help Clear a Path to $700

Ethereum was struck hard by the plunge seen yesterday evening by the aggregated crypto market After setting fresh 2020 highs of $495 alongside BTC’s push towards $19,000, the cryptocurrency saw a rapid and unrelenting plunge that sent it to lows of $450 on some trading platforms This 10% decline occurred over the course of a few minutes and sent shockwaves throughout the entire market It has since recovered from these lows and is now consolidating […]

2020-11-19 23:00


Bitcoin Explodes Towards $12,000 as Altcoins Plunge; What Analysts are Saying

Bitcoin has been sucking the air out of altcoins for the past few hours, with its price rallying significantly as Ethereum and other altcoins all sell-off This rally has sent it up towards $12,000, which mark fresh highs since its decline from its $12,400 yearly highs first began It does appear that bulls are currently setting their sights on a move past $12,000 Unlike Bitcoin’s previous rally – which came about in tandem with that […]

2020-10-20 21:00


Фото:

$700: Analysts Expect Ethereum to See a Massive Surge as ETH 2.0 Rollout Nears

Ethereum has been closely tracking Bitcoin over the past few days and weeks This has caused the cryptocurrency to see some turbulence as of late, with news regarding the OKEx founder being arrested sending BTC and ETH reeling lower This decline was short-lived, and bulls were able to rapidly step up and begin absorbing this selling pressure Analysts are now noting that upside could be imminent for the market, and ETH could see some serious […]

2020-10-17 23:00


Фото:

Ethereum Could Push to $420 if It Flips One Key Level into Support

Ethereum is currently caught within a consolidation phase alongside Bitcoin and its other peers This has made its near-term outlook somewhat unclear, as where it trends next may depend largely on the price action seen by BTC Overnight, an influx of selling pressure caused its price to plunge just over 1%, with this decline sending it below the crucial $380 level This level has long been pivotal for Ethereum, and its recent break above it […]

2020-10-16 23:00


Фото:

Ethereum Could See a “Violent Dump” to $250 as It Taps Key Resistance

Ethereum’s price action as of late has been quite turbulent, as it has been closely tracking that of Bitcoin, but amplifying but the gains and losses seen by the benchmark crypto Today has been relatively quiet for ETH, as its price is consolidating following its recent rally This push higher came about shortly after it saw a capitulatory decline down towards $318, and bulls were able to push it as high as $355 This is […]

2020-9-26 23:00


Фото:

Ethereum’s Market Structure Weakens as Bulls Fail to Break Key Resistance

Ethereum’s overnight price action has done little to offer insight into its near-term trend, as the cryptocurrency has been unable to maintain its recent momentum This, however, has not resulted in it seeing any type of sharp decline, with its rejection at $380 kicking off a consolidation phase Analysts believe that where the cryptocurrency trends next depends wholly on its reaction to one vital resistance level that has been suppressing its price action This resistance […]

2020-9-12 23:00


Analyst: Ethereum Narrowly Avoids Capitulation as Macro Outlook Grows Bright

Ethereum has posted some strong price action throughout the past couple of days, with the cryptocurrency ardently defending against any sharp decline This strength has come about mostly due to the buying pressure found at $320 This price level, and the region directly above it, have helped the crypto to slow its descent and stabilize Bitcoin’s ability to hold above $10,000 has also aided its price action significantly One analyst is now noting that ETH […]

2020-9-10 23:00


Analyst: Ethereum Poised to Dip to $270 as Selling Pressure Mounts

Ethereum has been fully exposed to the weakness seen by Bitcoin and the aggregated crypto market today This has caused it to post some notable losses, with its price reeling down to lows of $325 earlier this morning before bears lost some of their momentum and the crypto rebounded back above $330 Despite some slightly positive price action seen this morning, one analyst is still noting that the likelihood of a decline down towards the […]

2020-9-8 23:00


Фото:

Ethereum May Dive to $295 as Bears Strike a Blow to Its Market Structure

Ethereum has seen some intense selling pressure throughout the past few days, which reached a boiling point overnight when its price declined to lows of $330 The cryptocurrency is now stabilizing following this movement, but sellers appear to be stepping up and catalyzing further selling pressure One analyst is now noting that ETH could decline as low as $295 in the near-term This downside movement may come about as a result of the selling pressure […]

2020-9-6 22:00


Фото:

Ethereum Isn’t Clear of Danger Yet, But Analysts are Eyeing a Move to $500

Ethereum has seen a sharp decline over the past several hours that has caused it to break back below $400 This movement came about in tandem with a similar decline seen by Bitcoin and has sent shockwaves throughout the aggregated crypto market Analysts are now noting that ETH may be poised to see further near-term weakness, but its bull case remains strong One trader is noting that Ethereum has yet to break below a crucial […]

2020-8-26 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Accumulation Intensifies Amid Market Optimism

Ethereum is witnessing a surge in accumulation as on-chain data highlights a steady increase in holdings, indicating rising confidence in $ETH’s future potential. Historically, Ethereum has often benefited from profit rotations following Bitcoin’s major price moves, and the current market setup seems primed for a similar scenario. Ethereum accumulation is […]

Ethereum Shows Resilience As Retail Investors Stay Confident Amid Price Surge

Ethereum ($ETH) has recently experienced a notable price surge, yet retail investors are holding firm, signaling strong confidence in the cryptocurrency’s long-term growth prospects. Despite market fluctuations, low exchange inflows and a near-breakeven SOPR (Spent Output Profit Ratio) indicate that investors are choosing to hold onto their positions rather than […]