Bitcoinist reported that Ethereum’s large transaction volume spiked by over 200% in 24 hours, indicating an accumulation trend from these whales. How The ETH Price Action Could Play Out In an X post, crypto analyst Wolf predicted how the Ethereum price action could play out this year while claiming that ETH is currently being suppressed so that large players can accumulate.
The crypto analyst added that if ETH doesn’t complete its famous "ultra-scary 3 drive into the lows” pattern before being miraculously saved, then it is over for a while, indicating the crypto could suffer a further downtrend. Related Reading: Ethereum Price Eyes $4,000 With Rising Channel Pattern Max further explained that there is nothing but air beneath the Ethereum price structure, which he highlighted in his chart.
The analyst remarked that ETH faces a moment of truth’ and explained that the crypto could enter a bearish phase if it doesn’t complete a particular pattern. Ethereum Price Faces Moment Of Truth After ETH’s Crash Toward $3,000 In an X post, Max stated that the Ethereum price faces a moment of truth right here following ETH’s crash to around $3,000.
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