Ethereum Whales Increase Holdings, Control 22% of Supply
- Price Fluctuation: Ethereum (ETH) briefly fell below $2,000 for the first time since March 29, currently trading around $2,002, which is nearly 60% lower than August's high of nearly $5,000, reflecting market volatility and investor caution.
- Whale Accumulation: Wallets holding at least 100,000 ETH now collectively own 17.41 million ETH, the highest in nine weeks, accounting for 22.03% of Ethereum's total supply, indicating a resurgence of confidence among large investors.
- Retail Trader Sentiment: According to Santiment, the drop below $2,000 triggered a wave of “buy the dip” calls from retail traders; however, excessive optimism could signal bearish trends, as retail traders often misinterpret market direction during volatile periods.
- Downside Targets: Analyst Ali Martinez warns that Ethereum could face increased downside pressure if it closes below $1,850 weekly, with potential targets identified at $1,560 for structural support and $1,070 marking the lower boundary of the asset's multi-year range.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0317 | 0.0448 | 0.0569 | 0.07 | 0.0822 | 0.0953 | 0.107 |
| Fibonacci | 0.0448 | 0.0544 | 0.0604 | 0.07 | 0.0797 | 0.0856 | 0.0953 |
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