Ethereum is currently trading at $3,037.24 while experiencing significant whale accumulation of $1.38 billion, despite facing bearish technical indicators. The cryptocurrency is struggling to maintain its price above crucial moving averages during this consolidation phase. Whale accumulation suggests strong interest from large investors, potentially providing support against downward price movements. However, the technical landscape indicates persistent bearish momentum, complicating the outlook for the cryptocurrency. Traders are closely monitoring these developments as Ethereum’s price attempts to stabilize around the $3,000 mark.
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