US President Donald TrumpThe two -stage ceasefire announcement between Israel and Iran soothed the geopolitical tension in the Middle East, increasing the risk appetite and stimulating the crypto currency market. The largest subcoin Ethereum (ETH) $2,247.23pioneering this rise in an impressive way with a 9 percent rise from 2 thousand 230 dollars to 2 thousand 434 dollars to the summit. As soon as the news is written, the price of Eth Coin is around 2 thousand 400 dollars, which signals that confidence has increased among investors.
Big investors and network growth support Ethereum
Behind the increase in the mobility of Ethereum’s price lies in the intense large investor (whale) accumulation during the last week’s decline. Data are over 265 million dollars at the bottom levels of large investors Eth reveals that he bought it. Among these purchases, a single wallet, which bought 47 thousand 70 ETH (over 113 million dollars) within three days, drew attention. These aggressive purchases strengthened ETH’s resistance despite the uneasiness of the investor throughout the market.
Simultaneously, the Ethereum network continues its strong growth. Altcoin Since mid -May, an average of about one million new wallet addresses have been added to the king’s network. This indicates a 50 percent increase compared to the previous year. Despite external uncertainties, this increase in network activity reflects the continuity of interest in the Ethereum ecosystem.
Technical indicators put ETH on the rise route
Ethereum’s output of 2 thousand 400 dollars came with strong technical signals. During the last trading hours of June 23, the transaction volume increased to 2.5 times the 24 -hour average. ETH, 2 thousand 390 dollars to 2 thousand 402 dollars in a bull flag formation created. Initially, the resistance level of 2 thousand 275 dollars turned into support level. The price recorded the local summit with 2 thousand 434 dollars before entering a short consolidation period.
Since ETH is traded on a higher bottom model, the next psychological barrier is seen as $ 2,500. With the combination of network power, large investor support and decreasing geopolitical tensions, investors are wondering if ETH can move this output even further.
Crypto currency analyst AlienovichoAccording to the market sense of the current state of the current state of 2 thousand 140 dollars to 970 dollars for ETH will be left behind. Although the King of Altcoin withdrew slightly after the last rise, the current price of approximately 2,264 dollars shows only a moderate decrease. Increased volume indicates that interest has increased.
On the other hand, if ETH cannot maintain the reaction from this wing, it can be drawn to the next great support level of around 800 dollars, which are compatible with previous price structures. However, if a leap occurs, especially if investors show more confidence, a movement can be expected over 2 thousand 300 dollars.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
