Ethereum’s price is showing signs of potential decline despite increased accumulation by whale investors. Analysts suggest ETH could drop to $3,110 as bearish trends in the broader cryptocurrency market continue to weigh on sentiment. Despite a surge in large-scale purchases, Ethereum has struggled to regain momentum, with traders cautious amid ongoing market volatility.
Whale activity typically signals bullish potential, but its impact appears muted as macroeconomic uncertainties and regulatory concerns overshadow positive sentiment. If Ethereum fails to break through critical resistance levels, this bearish outlook could solidify, leaving investors wary of further downside risks.
Source – FXStreet
The recent uptick in whale accumulation reflects confidence among long-term holders, yet short-term traders remain hesitant as ETH struggles near key support levels. Market analysts emphasize that the broader crypto market’s performance, alongside macroeconomic factors like inflation data and interest rate decisions, will likely determine Ethereum’s trajectory. If selling pressure intensifies, Ethereum’s next stop could be the $3,110 level, marking a significant pullback from its recent highs.
