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Ethereum whales are collecting ETH tokens amid a sell-off




The crypto market often operates in a cycle of highs and lows. Conscious investors take advantage of the lows to enrich their portfolios with assets waiting for the upside. This quarter’s downtrend is no exception.

The past few weeks in the cryptocurrency market have been riddled with huge losses in the wake of the FTX crash. The extreme macroeconomic conditions that followed the Fed’s rate hike are not helping matters.

Ethereum, the second largest cryptocurrency, has suffered multiple setbacks in the past weeks following a market downturn. Ethereum fell below $1,600 to $1,081, losing nearly 24% over the weekend.

Ether whales noticed the downside and accumulated more than $1 billion worth of ETH while the price fell below the support level.


Whales buy a large amount of Ethereum

According to SantimentEthereum whales have accumulated approximately 947,940 ETH worth over $1 billion at the current market price. Ethereum’s “Percentage of Supply Retained” data indicates that this move represents the most significant one-day accumulation of whales in the past year.

In previous builds, the price of Ethereum gained an average of 3.2% against BTC. Bitcoin whale accumulations at support levels often lead to a bullish price reversal, but this time the opposite happened.

This is because Ethereum is still suffering from the impact of the FTX infection. The FTX crash hit the cryptocurrency as the crypto exchange suffered from an Ethereum shortage, leading to bankruptcies.

Former FTX CEO Sam Bankman-Fried’s Alameda Research transferred a large amount of ETH to the exchange to save the day. However, the attempts failed as both companies filed for bankruptcy a few days later.

The FTX hacker didn’t help, attacking the exchange’s accounts and stealing away many assets. The account bank later transferred all assets to Ethereum, fueling speculation that the hacker’s wallet address belonged to an insider. However, days later, the hacker dumped all of the stolen ETH in exchange for Bitcoin, causing more selling pressure on Ethereum.


The two largest cryptocurrencies are falling to new lows

Owing to the unfortunate events, the price of Ethereum continued to drop amid the crisis, reaching support levels before the whales piled up. Ethereum is now trading at $1,165 with gains.

Ethereum is growing by 2% on the l chart ETHUSDT on

However, despite the massive loss, Ethereum showed signs of recovery as its price added 2% in the past few hours. Meanwhile, Bitcoin itself is not doing well. Last Tuesday, the biggest cryptocurrency hit Four months low At $17,656 after falling 10%.

The asset continued its decline, hitting a one-week low on Monday and pulling out other cryptocurrencies. According to Coin Metrics, Bitcoin was trading at $15,725.02 and later fell to 15,586.94, the lowest since November 10. However, BTC has recovered slightly and is now trading at $16,515 with slight gains.

Featured image from Pixabay, chart from

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CRO price (Kronos) pumped over 12% why this could be the start of a bigger rally




CRO price started a fresh increase from the $0.062 support area. The Chronos bulls are now targeting a strong move towards the $0.094 level in the near term.

  • CRO price started a decent increase above the $0.065 resistance against the US Dollar.
  • The price is trading above $0.070 and the 100 simple moving average (4 hours).
  • There was a break above a major descending trend line with resistance at $0.0650 on the 4-hours chart of the CRO/USD pair (data source from Coinbase).
  • The pair could continue rising towards the $0.080 and $0.094 resistance levels.

Chronos CRO Price Eyes Fresh Rally

In the past month, Kronos price found support near the $0.0615 area against the US Dollar. CRO formed a base above the $0.0615 and $0.0620 levels before starting a fresh increase.

There was a clear move above the $0.0650 resistance area and the 100 simple moving average (4 hours) to move into positive territory. Besides, there was a break above a major bearish trend line with resistance at $0.0650 on the 4-hours chart of the CRO/USD pair.

The price is now trading above $0.070 and the 100 simple moving average (4 hours), outperforming bitcoin And the raised. On the upside, an immediate resistance is near the $0.074 level. It is close to the 23.6% Fibonacci retracement level of the main decline from the $0.131 swing high to $0.0568 swing low.

The next major resistance is forming near the $0.080 area. If there is an upside break above the $0.08 resistance, the price could start another strong increase.


source: CROUSD on

In the mentioned case, the price could steadily rise towards the $0.094 level. It is close to the 50% Fibonacci retracement level of the main drop from the $0.131 swing high to $0.0568 swing low.

Limited dip in CRO?

If CRO price fails to rise above the $0.074 and $0.080 resistance levels, it might start a bearish correction. There is an immediate support on the downside near the $0.07 level.

The main support is near the $0.0650 level and the 100 simple moving average (4 hours). A break-down below $0.065 could open the doors for a fresh decline towards $0.062. The next major support is near the $0.060 level.


Technical indicators

4-hour MACD – The MACD for CRO/USD is gaining momentum in the bullish zone.

4-hour RSI (Relative Strength Index) – The RSI for CRO/USD is now overbought.

Key Support Levels – $0.070 and $0.065.

Key Resistance Levels – $0.074, $0.08, and $0.094.


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Bitcoin Analysts Eyeing USD Weakness as BTC Price Struggles Against $17K




bitcoin (BTCThe bulls tried to reclaim $17,000 in the Dec 4 weekly close as it looks like volatility will return to the market.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bollinger Bands ask for bitcoin price volatility

information from Cointelegraph Markets Pro And the TradingView Show BTC/USD crossed the $17,000 mark – a pivotal point throughout the weekend.

With the macro signs still emerging, Bitcoin looked for catalysts as signs of volatility crept into the lower time frames.

Among those eyeing a potential break with the status quo was famed trader Cheds, who pointed out The Bollinger Bands Volatility Indicator was flashing on the 4-hour chart.

Bollinger Bands signal that volatility is imminent soon, and on the day, the 4-hour chart’s bands are at their narrowest since November 27 – before BTC/USD surged $1,000.

4-hour BTC/USD candlestick chart (Bitstamp) with Bollinger Bands. Source: TradingView

Meanwhile, fellow crypto trader Tony remained cloaked Bitcoin price theory in the short term.

“There is simply no change over the past few days,” he said Tell Twitter followers.

“We’re grinding more in the EQ/mid range, but I wouldn’t be surprised to see a fuse up for SFP modulation and dip back.”
Annotated BTC/USD chart. Source: Crypto Tony / Twitter

Previously, Crypto Tony Putting a mark $21,500 as a target should be his target if the bulls are to take control and change direction.

The US dollar index reverses the relief rebound

Meanwhile, the coming week seemed to be increasingly important for the US dollar and, accordingly, for the performance of risky assets.

Related: Bitcoin outflow has reached its highest level in 6 months, in a new threat to the price of bitcoin

already in lowest levels in five monthsThe US Dollar Index (DXY) definitely looked bleak at the end of last week’s trading.

A rebound to 105.6 on Dec 2 almost completely reversed on the day, with DXY ending at 104.5.

For technical analyst Gert van Lagen, it was all part of the plan, with DXY’s bearish signals showing even in November.


“Continued rapid decline would be normal here.” Wrote In an analysis on November 23 that he returned for the weekend.

US Dollar Index (DXY) candlestick chart. Source: TradingView

“The correction continues,” Stockmoney Lizards trading resource added About DXY performance.

The views, ideas and opinions expressed herein are those of the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.