Ethereum has faced a three-week downtrend, maintaining pressure on prices. Despite this, whales stepped in, buying 1.1 million ETH worth 3.5 billion USD to stabilize the market and provide investor confidence.
The critical support level for ETH is now at 3,131 USD. A breach could lead to prices falling to 3,028 USD. However, a successful breakout could see ETH rally to 3,500 USD.
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