Is It Time To Buy Ethereum? Wells bought more than $1 billion in ETH
On January 20, 2025, the general cryptocurrency market has shown a strong bullish potential before the president-elect and pro-crypto advocate Donald comes down. Huge in the last week.
Wells bought more than $1 billion in ETH
Recently, a prominent crypto expert posted on X (formerly Twitter), revealing that whales bought over $1 billion worth of Ethereum (ETH) last week. The expert found more than 330,000 ETH worth more than 1 billion dollars in these crypto-wells.
This large amount of ETH stock whales suggests a strategic move to secure Trump's inauguration, which is expected to have a positive impact on the crypto market. However, experts and analysts already predict that the crypto market will experience a significant increase following the launch date.
Meanwhile, the market has been rising for the past few days and there is a chance to make a profit. However, only time will tell where the market is headed after this upcoming political event.
Current price momentum and increasing participation
Currently, ETH has crossed the $3,500 mark and is trading at $3,515. It has experienced a price increase of over 5.5% in the last 24 hours. At the same time, it attracted significant traders and investors, resulting in an 11% increase in transaction volume.
Ethereum (ETH) price action and key levels
With the dramatic price increase, ETH has once again reached the critical resistance level of $3,500. According to expert technical analysis, if ETH breaks this resistance level and closes a daily candle above $3,550, there is a strong possibility that it will rise by 15% to reach the $4,100 mark in the coming days.
On the positive side, ETH's Relative Strength Index (RSI) is still below the overbought zone, indicating that the asset has room to increase significantly in the coming days.
