Ethereum Hits 2-Month Low: Whales Return, but Sub-$2K Fears Mount
— CryptoPotato
Ethereum has hit a 2-month low; whales are back, but fears of sub-$2K levels are rising.
Ethereum has dropped to its lowest level in nearly two months, just above $2,000, as whales return to the market.
- Ethereum is currently trading at just over $2,000, marking a 17% drop from its monthly high of $2,425.
- Analyst Ted Pillows warns that losing the $2,050 support could lead to deeper corrections, with over $250 million in ETH long positions liquidated recently.
- According to Lookonchain, a whale known for significant past profits has returned, acquiring over $8 million worth of ETH at around $2,050.
The loss of the $2,000 support could exert downward pressure on the market, while whale accumulation may signal potential demand increase.