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27 October, 2024

Ethereum Price Retreats After Two-Month High: Whales Step In to Stabilize

27 October, 2024

Ethereum’s price saw a significant pullback, dipping by 10% and testing support levels. The correction comes after a strong rally that pushed ETH to a two-month high. While profit-taking contributed to the downturn, large-scale whale purchases have been observed, suggesting a potential rebound. These whale interventions aim to solidify a recovery above the critical $2,700 mark. The market awaits further signals to determine if this correction is merely a temporary setback or the beginning of a more sustained downward trend.