Ah, Ether. The cryptocurrency that’s like that friend who promises to pay you back but then mysteriously vanishes every time the bill arrives. Currently, it’s flirting with the idea of dipping below $1,900, which, according to analysts, could unleash a tidal wave of investor demand. Because nothing says “buy me” like a price drop, right? 🙄
Let’s take a moment to appreciate the drama: Ether (ETH) has plummeted over 52% during its three-month downtrend, after peaking at a dizzying $4,100 on December 16, 2024. It’s like watching a soap opera where the main character just can’t catch a break. 📉
Now, if Ether does decide to take a nosedive below $1,900, Juan Pellicer, a senior research analyst at IntoTheBlock, assures us that this could actually spark a buying frenzy. Because who doesn’t love a good bargain?
“Onchain metrics reveal a robust demand zone for ETH just below $1,900,” Pellicer told CryptoMoon, adding:
“Historically, around 4.3 million ETH were bought in the $1,848–$1,905 range, signaling substantial support. If ETH drops below this level, capitulation risks rise, as demand beyond this zone appears much thinner.”
Capitulation, in case you’re wondering, is just a fancy term for when investors panic-sell their positions, leading to a price drop that’s about as welcome as a surprise visit from your in-laws. It’s the market’s way of saying, “Hold my beer, I’m about to hit rock bottom.” 🍺
Ether unlikely to see more downside below $1,900 amid growing whale accumulation: analyst
But fear not, dear investors! Nicolai Sondergaard, a research analyst at Nansen, claims that while Ether might dip temporarily below $1,900, it’s unlikely to plummet much further. Apparently, the whales are accumulating, which is a fancy way of saying that the big players are buying up Ether like it’s going out of style. 🐋💰
“It does seem likely that if ETH is unable to hold the $1,900 level that we’d see further downside,” Sondergaard told CryptoMoon, adding:
“Supposedly whales have been accumulating, and WLFI also holds substantial amounts of ETH, and regardless, price action has not been favorable.”
In other words, the big fish are swimming in, while the little guppies are left wondering what just happened. This behavior was also reflected in recent options data, where larger players were positioning themselves for moves in either direction, which is just a polite way of saying that no one has a clue where ETH is headed next. 🤷♂️
Whale addresses on Ethereum have started to recover at the beginning of 2025, which is great news for those who enjoy watching the rich get richer.
Whale addresses with at least 1,000 ETH or $1.92 million have risen over 4% year-to-date, from 4,652 addresses on January 1 to over 4,843 addresses on March 14, according to Glassnode data. So, if you’re feeling a bit left out, just remember: the whales are having a party, and you’re not on the guest list. 🎉
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2025-03-15 16:30