The post Ethereum Prepares for Potential Pullback as Whales Exit: Is a Deeper Correction Ahead for ETH? appeared first on Coinpedia Fintech News
In the past few days, the crypto market has seen strong gains, with Bitcoin’s price creating a new all-time high. But this rise triggered a profit-taking sentiment, which caused the market to temporarily peak. Ethereum, in particular, struggled to stay above its recent high as large investors started pulling back their money. As a result, there might be a short-term correction for ETH price ahead.
Ethereum Struggles in Meeting Buying Demand
A market-wide rebound, driven by Bitcoin hitting new all-time highs and better overall economic conditions, helped push Ethereum’s price up to an eight-week high of $2,731. However, it’s now having trouble attracting strong buying interest, as many short-term investors have already sold to lock in profits.
According to Coinglass, over the past 24 hours, more than $40.66 million in Ethereu
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