Ethereum “Whales” Have $2,400 Breakeven Ceiling
The price of Ethereum ranges between $2,350–$2,351 following two significant upward days with gains of 4.76% and 6.32%. However, the current distribution among whale holdings near their cost basis is limiting price action to an unbreakable ceiling level for bulls.
Why Does $2,400 Make a Difference?
* Ethereum “Whale” Cost Basis: The most significant groups have the following average cost levels ranging from $2,324 to $2,436. Therefore, breakevens are close.
* Technical Resistance Level: It coincides with 100-day EMA, and all attempts are rebuffed at this critical level.
* Liquidations: There were about $111.6M of liquidations within 48 hours of the trade, out of which $70.8M occurred among longs.
Bullish Factors
* ETF Flowing: The US spot ETH ETF funds have received net inflows of $67.8M Wednesday. They have had inflows for five consecutive
Watch These Levels
* Breakout: A breakout above $2,400 is needed, with volume above $2,500 indicating continuation
* Support: First support is at $2,200, failure to hold below $2,200 triggers downside momentum
* Verdict: The next 72 hours will determine whether this is a base building or fakeout scenario
Pre-Sale Watch: LiquidChain
ETH price can reach $3,000, which is 27% from current levels, attracting traders with asymmetric returns to invest in early infrastructure projects.
* Project: L3 Infrastructure that combines Bitcoin, Ethereum, and Solana liquidity into a single execution layer
* Features: Single-step Execution, Verifiable Settlements, and Deploy Once Architecture
* Stats: Raised $675,934 at $0.0145. It is in its
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