SNEAK PEEK

• A smart whale deposits a massive 25K ETH ($47.24M) into Binance.
• The whale withdraws an impressive 15.9 million USDT within a span of 12 hours.
• With a flawless trading record, the whale has achieved a 100% win rate in trading ETH over the past two months.

In a remarkable display of trading prowess, a highly skilled whale has deposited a staggering 25K ETH (equivalent to $47.24M) into the renowned cryptocurrency exchange, Binance. Just 12 hours ago, they effortlessly withdrew an impressive 15.9 million USDT, showcasing their remarkable ability to capitalize on the market’s volatility. Over the past two months, this individual has achieved an astounding 100% success rate in trading ETH, consistently buying at lower prices and selling at higher ones to maximize profits.

A smart whale deposited 25K $ETH ($47.24M) to #Binance and withdrew 15.9M $USDT 12 hrs ago.

The whale is very good at buying $ETH at low prices and selling at high prices to make a profit.

He has a 100% win rate of trading $ETH in the past 2 months.https://t.co/dT9p6jeCtr pic.twitter.com/pTuJAwL81O

— Lookonchain (@lookonchain) June 28, 2023

The whale’s trading strategy has proven to be an unstoppable force, allowing them to accumulate substantial wealth through its flawless execution. Their ability to seize opportunities when ETH’s price dips and sell when it reaches new highs has propelled their financial gains to unprecedented levels. This recent deposit and withdrawal further prove their unparalleled trading acumen.

Ethereum price corrects down to $2.05 amid bearish market

The most recent Ethereum price analysis reveals that the bears have taken control of the market, causing the price to correct sharply from its recent highs. In the past 24 hours, Ethereum has dropped from a high of $1,909 to a low of $1,859 before briefly rebounding to $1,862. The bearish pressure is expected to remain as the world’s second-largest cryptocurrency by market value retraces its steps back to the $1,850 level of support.

The ETH market opened today’s trading section in a strong bullish trend, rising to a high of 1,910. The bears quickly took control of the market and dragged prices back down to the $1,858 level of support. Since then, Ethereum has been down by 1.29% as the bears dominate the market. The next major support level for ETH lies at $1,850, and if the bulls fail to defend this price level, we could see another round of intense selling pressure.

The 4 hour technical indicators show that the bears are firmly in market control. The RSI indicator also reflects a strong bearish trend as it falls below 50 at 42.29, and if bears persist, the RSI could sink further to indicate a strong sell signal. The average directional index is also trending further into the red zone, now at 19.35, as it currently reads below 20.

The MACD indicator shows that Ethereum is in the bearish territory as it drops to -1.29, just below the signal, which suggests that there could be a further downside if the bears dominate the market. The histograms are decreasing in size, with red bars taking control of the market and indicating a bearish trend. The 20-SMA is also trending downwards, indicating that the bears could potentially remain in control of the market.

Overall, Ethereum’s price is currently in a corrective mode as it retraces its steps back to the $1,850 level of support. The bearish pressure is expected to remain strong for now, and if the bulls fail to defend this major support level, we could see further downside. On the upside, Ethereum needs to break through the $1,910 level of resistance for a potential bullish trend to take shape. 

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

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• Source: https://investorbites.com/ethereum-eth-price-analysis-28-06/