Ethereum Reclaims Key Bear Market Breakout Zone Retesting $1,700 – $2,100 Price Range, Whales Divided

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Ethereum Reclaims Key Bear

  • Ethereum reclaims key bear market breakout zone. 
  • The pioneer altcoin is retesting the $1,700 – $2,100 price range. 
  • Whales seem divided on what move will best suit their strategy.

The pioneer altcoin Ethereum (ETH) sits at the price of $1,879.77 according to CoinMarketCap analytics at the moment. This range draws the attention of a reputed crypto analyst while ETH whales seem divided on what moves to make. The analyst marks how Ethereum reclaims key bear market breakout zone as the pioneer altcoin retests the $1,700 to $2,100 price range. 

Ethereum Reclaims Key Bear Market Breakout Zone

https://twitter.com/VirtualBacon0x/status/1907177814039597408

As we can see from the post above, this analyst marks how Ethereum reclaims key bear market breakout zone. In addition, he says that the pioneer altcoin is retesting the $1,700 – $2,100 price range and says that in the short term, ETH looks choppy. However, he concludes that in the long term, ETH is catching up fast and once FED pivots and global liquidity turns, ETH will charge upward exponentially. 

In detail, the video in the post walks viewers through a detailed ETH price chart that measures all of ETH’s movements over the last couple of years. He also mentions sideways movement for the short-term but remains certain that ETH will eventually run quickly as it always has in previous cycle. He concludes by saying he is continuing to hold all his ETH assets and hasn’t sold any ETH yet. 

ETH Whales Sell, Panic Move or Smart Trading?

Meanwhile, ETH whales seem to be confused about what move will best serve them in the coming days when it comes to holding, selling, or buying ETH. As we can see from the post above, a long-term ETH holder seems to have sold all the remaining 2,001 ETH worth $3.82 million earlier today. To trace back, this long-term ETH holder bought 5,001 ETH amounting to $1.38 million at $277 in 2017 but hadn’t sold a single ETH when ETH hit its ATH at $4,878 during the last bull run. 

However, it seems that the long-term ETH holder finally hit his barrier for patience and a month ago, started selling his ETH  making a total profit of $8.66 million. At the peak, though, his unrealized gains had once reached $23 million. If the analyst above is right, this whale could have yielded a much greater profit if he had decided to hold his ETH for a longer time, but will ETH price certainly rise again? 

The analyst in the post above certainly seems to think so. Based on the chart and the numbers highlighted in the post, this analyst shares his disappointment over the red close for Q1 2025 but goes on to expect a promising return for both ETH and BTC in Q2, which has historically always been a good quarter for crypto.

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