Ethereum's price is maintaining support near $2,200 as whale buying activity absorbs retail selling pressure. Currently trading around $2,285, Ethereum has seen a 2% decline over the past 24 hours but remains above the critical $2,150–$2,200 support zone. Analysts highlight that this area is crucial for maintaining bullish momentum, with a potential breakout above the $2,400 resistance level opening the path to $2,624 and possibly $3,000.
Market indicators suggest that whales are actively purchasing Ethereum, countering retail selling and supporting the price. The presence of whale buy orders below the current price level indicates ongoing demand, while resistance above is diminishing. However, Ethereum must secure a breakout above $2,400 to confirm a bullish trend and target higher resistance zones.
Ethereum Holds $2,200 Support Amid Whale Accumulation
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
