This morning, a cryptocurrency trader took to Twitter to express their insights on the future price of Ethereum (ETH), the largest altcoin by market capitalization. The trader predicts that ETH’s correction is nearing its end and that the altcoin has currently hit its weekly low. Their analysis suggests a potential upward trend for ETH in the coming days.
Given the circumstances, the trader holds a firm conviction that the value of ETH will experience an upward trajectory from its present state. However, upon examining the community’s sentiments regarding this forecast, the trader’s viewpoint on ETH is not widely shared.
A commentator has drawn attention to a recent Tweet from WhaleStats, a website that tracks whales in the cryptocurrency market. The Tweet revealed that an unknown wallet had transferred 21,375 ETH, valued at approximately $37,527,485, to Coinbase. This development may suggest that whales are preparing to offload their ETH holdings.
The current market value of ETH stands at $1,801.36, reflecting a 1.26% surge in price within the last 24 hours. During this period, ETH demonstrated its volatility by reaching a high of $1,843.84 and a low of $1,744.86.
The weekly performance of the altcoin remains impressive, with ETH soaring by over 11% in the past seven days. The 24-hour trading volume of the altcoin is currently in the green zone, standing at $10,888,889,030, marking a remarkable 23% increase since yesterday. In terms of market cap, ETH holds a strong position at $220,637,972,002.
