Ethereum is sitting on a very tense price line right now. Large traders with long track records are taking big long positions while spot buyers are trying hard to keep the price above the key zone between three thousand and three thousand one hundred. This range has become the main floor for the market. If Ethereum holds it the trend may turn stronger. If it slips below it the market could see a sharp drop.
Some of the biggest whales in the market are placing large long trades. These are traders known for strong performance and they often move together during big moments. One whale known for huge profits is holding a long position of more than fifty four thousand ETH. The value of this position is close to one hundred sixty nine million. Another whale often talked about by the market has also added a large long of more than sixty two thousand ETH worth almost one hundred ninety four million. A third whale has joined with a smaller but still important long of twenty thousand ETH valued at more than sixty two million. All three are taking the same side. This shows strong belief in the near term future of Ethereum.
Spot buyers are also active. They are placing solid bids between three thousand and three thousand one hundred. This creates a wall of support that holds the price steady. Market watchers say buyers are ready to defend this spot because a daily close under three thousand can pull the price down fast. Some say this drop can reach eight to ten percent within days. So this makes the three thousand level a line that buyers want to keep safe.
Technical signs show the market is trying to settle. The strength index is sitting in a neutral spot. This hints that selling power is no longer heavy. The MACD lines are moving flat which also shows selling pressure is cooling after weeks of steady down moves. Another sign known as the flow meter has turned slightly positive. This means some money is coming back into the market. The price is resting near the center of the bands used to judge short term movement. That shows the market is trying to balance after a rough phase.
Even with these signs the market is not ready to call itself fully strong. Traders are watching the three thousand zone very closely. If the price stays above it for a few more days it can act as a base for a steady rise. If the price breaks under it the market may face a new wave of selling. Whales holding large longs want the price to hold. Spot buyers want the same. But the market decides based on real demand not on hope.
In short the future path of Ethereum depends on how the price acts around the three thousand zone. Big traders have shown confidence and spot buyers are adding support. Still the risk of a drop is real if the price slips below this key level.
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