Ethereum Price Analysis: ETH Price Faces Further Correction to $2.2k Amid Declining Whale Activity

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Crypto Meltdown: Is Your Portfolio Next?

<a href="https://inrusdinr.in/eth-usd/">Ethereum</a> Price Analysis: <a href="https://inrusdinr.in/eth-usd/">ETH</a> Price Faces Further Correction to $2.2k Amid Declining Whale Activity

The altcoin industry, led by Ethereum

ETH

$2 708

24h volatility:

1.2%

Market cap:

$326.26 B

Vol. 24h:

$23.38 B

, has been doing its best impression of a sinking ship lately 🛥️. As Bitcoin

BTC

$95 318

24h volatility:

1.6%

Market cap:

$1.89 T

Vol. 24h:

$27.33 B

price took a nosedive below $96k earlier this Monday, the TOTAL 2 market cap basically threw a tantrum and started waving a big ol’ “SELL” sign 🚩.

As a result, the total crypto market cap dropped about 2.5 percent in the past 24 hours, bringing the total to hover around $3.3 trillion. The whole situation is just a big ol’ circle jerk of fear and uncertainty, fueled by the US’s trade wars (because, you know, that’s always a good time 😒).

Ethereum Price Faces Potential Selloff

From a technical analysis standpoint, Ether’s price has been forming a bearish flag in the daily time frame. Imagine a grumpy old man waving a red flag 🚩; that’s Ether right now. In the daily time frame, Ether’s price has consistently closed below the previous support level of around $3,035, basically saying “See ya later” 👋 to any hopes of a quick rebound.

Moreover, the ETH price hit a major resistance level of about $4k, which sent it spiraling downwards. According to crypto analyst alias Altcoin Sherpa, Ether’s price is aiming for a support level of around $2,529. If Ether buyers can’t hold onto that support level, well, buckle up buttercup because a further drop towards $2,258 is almost guaranteed 🤪.

$ETH im not going to get trapped on this one

— Altcoin Sherpa (@AltcoinSherpa) February 17, 2025

Ether Whales Shows Mixed Reactions

The demand for Ether by whale investors has been all over the place lately 🤪. Since the beginning of February 2025, the supply of Ether on centralized exchanges (CEXes) has declined from 16.19 million to about

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2025-02-17 22:33