Ethereum (ETH) Price Drops 5% as the Market Enters a Correction Phase

Following strong gains to $2,700 last week, Ethereum is facing a pullback as the ETH price plummets 5% in the last 24 hours, slipping under $2,500 levels.

Following strong gains to $2,700 last week, Ethereum is facing a pullback as the ETH price plummets 5% in the last 24 hours, slipping under $2,500 levels. This pullback comes amid a broader crypto market decline with investors now eying as what happens next.

Ethereum Price Could See A Potential Pullback

Popular analyst Crypto Patel believes that Ethereum price could see a potential pullback following its rejection near the $2,500 Fair Value Gap (FVG) zone. The analyst further added that ETH is now entering a correction phase, with the price likely to drop into the $1,930-$2,100 FVG range.

This zone aligns with a bullish order block around $1,810, where we can see chances of investors’ re-entry and there is high accumulation at this price point. But if Ethereum manages to stage enough demand at this level, it could rally toward $4,000-$5,000 in the next bullish cycle.

$ETH Pullback Loading: Is $1,800 the Next Big Buy Zone?#Ethereum faced rejection near the $2,500 FVG zone and is now entering a correction phase.

Price may drop into the $1,930–$2,100 FVG zone, which aligns with a strong bullish order block around $1,810.

This area is a great place for institutions to enter. We can see chances of investors’ re-entry and there is high accumulation at this price point (orange).

Also, notice the strong selling pressure at the $3,000 zone (red). This is where we saw multiple attempts to break through but were met with resistance.

If this level holds and we see signs of sellers exhausting themselves, it could be a good opportunity to go long on ETH.

The next major price point to watch is $4,000–$5,000, which is the apex of the last bullish cycle and could serve as a final resistance zone.

The current price action suggests that we are still in a bull market and that Ethereum has potential to move much higher. However, it’s important to note that the market is highly volatile and anything can happen.

Investors should keep an eye on the key technical levels and be prepared to adjust their trading plans accordingly.

This analysis is for informational purposes and should not be considered investment advice. Always do your own research before investing in any cryptocurrency or financial instrument.

#ETH price

This analysis is for informational purposes and should not be considered investment advice. Always do your own research before investing in any cryptocurrency or financial instrument.no scam

The analyst stated:

“This area is a great place for institutions to enter. We can see the chances of investors’ re-entry and there is high accumulation at this price point (orange). Also, notice the strong selling pressure at the $3,000 zone (red). This is where we saw multiple attempts to break through but were met with resistance.”

However, investors should keep in mind that the recent Ethereum price rally comes along with heavy ETH accumulation by institutional players. In a massive accumulation, Abraxas Capital bought over $650M in the past few weeks, marking one of the biggest institutional purchases of ETH.

According to the data from Farside Investors, spot Ethereum ETFs accumulated $22 million worth of ETH on Friday, highlighting renewed market optimism. On the other hand, the Block report pointed out that the institutional trading firm Apex Fintech sold a large amount of Bitcoin futures contracts on Friday.

Whales Are Continuously Accumulating

Crypto analyst Ali Martinez reports a significant surge in Ethereum accumulation by whales over the past month. According to on-chain data, large investors have collectively added over 450,000 ETH to their holdings during this period.

The post Ethereum Price Faces A Pullback As Whales Engaged In A Massive Accumulation— Is $1,800 The Next Support Zone? appeared first on Tokenhell.