ETH whales bought the dip, but will accumulators prevent a drop to $2.7K?
Institutional investors and crypto whales viewed the ETH price drop below $3,000 as a buying opportunity, but data still hints at a deeper sell-off to $2,700.
Ether (ETH) price saw a daily candle close below $3,000 on Tuesday, but a positive is that data showed large holders were buying throughout the dip. While ETH whale accumulation signals growing confidence, conflicting indicators suggest rising market risk for the altcoin.
Key takeaways:
ETH whales and institutional investors bought over $130 million in Ether as the price closed below $3,000 on Tuesday.