Whales Scoop 323,523 ETH Amid Price Dip – Is Ethereum Price Correction Setting Up a 10K Wave?
Ethereum price projections suggest a potential rebound toward $10,000 after a current healthy correction. Analysts anticipate a strong third wave rally, while on-chain data reveals whales accumulating over $1.12 billion worth of ETH, signaling long-term confidence. Despite short-term downside pressure, market sentiment remains cautiously optimistic due to increased accumulation at key demand zones.
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Ethereum's Price Under Spotlight
The Ethereum price has come under renewed focus following analysts’ projections of a major rebound toward $10,000. This potential surge has sparked significant interest among traders and investors.
Analysts Highlight Healthy Correction
According to CrediBull Crypto, the recent price decline is part of a healthy correction. They emphasize this decline is setting the stage for a stronger third wave rally, offering hope to Ethereum enthusiasts.
Whales Signal Long-term Confidence
Recent on-chain data reveals that whales have accumulated over $1.12 billion worth of ETH. Such significant accumulation reinforces their long-term confidence in the asset, sending a strong signal to the broader market.
Market Sentiment and Accumulation Trends
Despite short-term downside pressure, market sentiment remains cautiously optimistic. Accumulation activity has intensified around key demand zones, further supporting Ethereum’s outlook in the broader crypto market.