After $3K, can Ethereum’s price fall to $2000 next?

The second-largest cryptocurrency has corrected as much as 17% over the week, as bulls struggled to overcome the downward volatility in the broader market.

However, market participants seem to be reacting differently to the ongoing slump, with some profit-taking on their investments while others accumulating ETH at lowered prices.The influential investor has been doubling on their ETH investments lately, and held a whopping 86,457 ETH tokens as of the 17th of April.

To the contrary, a whale who was an active participant in the initial coin offering in 2o15, sold 2,000 ETH at a selling price of $2,997, data from The whale received 33,213 ETH as part of the ICO, at a price of $0.31. The latest sale, therefore, multiplied their returns by orders of magnitude.To better understand the market reaction to ETH’s slump, AMBCrypto examined Santiment’s whale metrics.

Notably, the two whale cohorts — 1,000 to 10,000 and 100,000–1 million — increased in number over the week, suggesting that they were accumulating.The aforementioned indicators strengthened the “mixed” reaction narrative made earlier in the article.alluded to the deductions made above to some extent. According to the last update, the market sentiment for ETH was neutral, with no clear bias towards buying and selling.Aniket Verma works as a journalist at AMBCrypto.

Source: News Formal (newsformal.com)

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum holders, forget hitting $4K; Will ETH’s price hold on to $3K?The combination of the 30-day MVRV ratio and mean coin age flashed a buy signal for Ethereum, even as prices crashed below the $3.5k support.
Source: CryptoAmb - 🏆 22. / 68 Read more »

ABN AMRO maintains $2,000 year-end price target even as gold trades near record highsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Gold prices will reach $3K in coming months: AnalystCitigroup (C) has forecast that gold prices (GC=F) could reach $3,000 per ounce over the next few months. The analyst behind the call, Citi North America...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Nearly 3K Toronto residents sign petition to reverse Ontario’s UP Express changesNearly 3,000 people have already signed a petition to reverse changes made to the UP Express that would limit stops to two transit stations in Toronto.
Source: CTVToronto - 🏆 9. / 84 Read more »

Guelph.Beer donates nearly $3K to support diversity in brewing industryThe funds will go towards helping students of colour obtain certifications in the brewing industry. Guelph.Beer consists of Wellington Brewery and Sleeman among other businesses.
Source: GlobalCalgary - 🏆 50. / 61 Read more »

CRA fires 232 people for falsely claiming $2,000 monthly pandemic benefitThe Canada Revenue Agency has now fired more than 200 people for falsely claiming a federal income benefit during the COVID-19 pandemic.
Source: BNNBloomberg - 🏆 83. / 50 Read more »