empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Key documents
Social Responsibility
22.02.2024 10:19 AM
Technical Analysis of ETH/USD for February 22, 2024

Ethereum's Whale of an Opportunity: Deciphering ETH's Next Move Amidst Big Buys

The Ethereum market has been abuzz with activity as a notable crypto whale, known as 0x7a9, embarked on a substantial buying streak, amassing ETH worth $185.5 million over three days. This aggressive accumulation reflects a surge in confidence for Ethereum and sparks discussions on the ripple effects across its pricing landscape.

Key Takeaways:

  • Ethereum catches the market's eye as a crypto whale's massive buying spree hints at underlying confidence.
  • Technical indicators suggest caution, but market sentiment remains overwhelmingly bullish.
  • Analysts see potential price dips as key buying opportunities, predicting a strong continuation for ETH.

This image is no longer relevant

ETH Whale's Actions Market Impact:

The recent Ethereum whale's actions, characterized by significant withdrawals from Binance and substantial trades on decentralized exchanges like 1inch, have turned heads and set the tone for Ethereum's near-term market sentiment. With Ethereum trading around the $3,000 mark, such large-scale movements are pivotal in swaying market dynamics.

Technical Analysis:

The H4 chart for ETH/USD displays a complex picture:

  • The emergence of a bearish engulfing pattern and a shooting star candlestick signals potential short-term reversal or consolidation.
  • Bearish divergence on the RSI further adds to the cautious stance, suggesting that despite the recent bullish momentum, a correction could be imminent.
  • However, Ethereum's price holding above both the EMA 100 and DEMA 50 indicates an underlying bullish trend.
Market Sentiment:

Despite technical indicators leaning towards sell signals, the sentiment scoreboard is emphatically bullish, with a staggering 77% bullish versus 23% bearish. This sentiment has seen an uptrend in the past week and is further bolstered by recent days' data, suggesting that the community may be gearing up for an alt season.

This image is no longer relevant

Bullish Scenario: If the market continues to echo the optimism of the whale's investments and analyst sentiments, Ethereum could break past the resistance levels set by the weekly pivot points. The first target for bulls lies at WR1 ($2,937), with further potential upswings aiming for WR2 ($2,929) and the psychological barrier at WR3 ($3,041).

Bearish Scenario: Should the technical indicators' sell signals manifest into a price downturn, Ethereum could see support levels being tested. A dip below the weekly pivot ($2,896) could lead to further retracements to WS1 ($2,865). If the bearish pressure persists, subsequent floors at WS2 ($2,824) and WS3 ($2,751) may come into play.

Conclusion:

The Ethereum market is at a crossroads, with technical signals calling for caution while the sentiment and strategic whale behavior indicate a bullish trend. Investors and traders should weigh these factors and prepare for both scenarios by setting strategic entry and exit points based on pivot levels and market signals.

Useful Links
Important Notice

The begginers in forex trading need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp market fluctuations due to increased volatility. If you decide to trade during the news release, then always place stop orders to minimize losses.

Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes. For successful trading, you need to have a clear trading plan and stay focues and disciplined. Spontaneous trading decision based on the current market situation is an inherently losing strategy for a scalper or daytrader.

#instaforex #analysis #sebastianseliga

Sebastian Seliga,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Fundamental analysis
GBP/USD Pair Overview – March 14: The Last Day of the Week as a Mere Formality On Thursday, the GBP/USD currency pair also began a slight downward correction. While the pound did not depreciate significantly, explaining why it rose for two weeks is difficult. Of course
Paolo Greco
03:39 2025-03-14 +02:00
1015
Fundamental analysis
EUR/USD Pair Overview – March 14: Maybe That's Enough? The EUR/USD currency pair finally began to decline on Thursday, but once again, this movement was not linked to macroeconomic factors or fundamental events. It wasn't even related to Donald
Paolo Greco
03:39 2025-03-14 +02:00
1030
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST

Recommended Stories

Bitcoin and Ethereum Buyers Struggle to Gain Control

Bitcoin continues its recovery after the major sell-off at the beginning of the week. However, yesterday's failure to break the weekly high casts doubt on the short-term bullish outlook
Jakub Novak 10:22 2025-03-13 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 13

Bitcoin and Ethereum are locked within new channels. On the positive side, the intense selling pressure observed at the beginning of the week has subsided. However, there are concerns about
Miroslaw Bawulski 08:05 2025-03-13 UTC+2

Bitcoin Prepares for a Comeback

As Bitcoin and Ether bounce back strongly from their yearly lows, this indicates that the bull market is not finished yet. In this context, Senator Cynthia Lummis has reintroduced
Jakub Novak 23:59 2025-03-12 UTC+2

Bitcoin Depends on Sentiment in the U.S. Stock Market

The cryptocurrency market has seen a slight recovery after another sell-off earlier this week. However, the situation remains tense, and selling pressure could return at any moment
Jakub Novak 10:24 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 12

Bitcoin and Ethereum have experienced a slight recovery after another sell-off, reaching new yearly lows. The panic seen in both the U.S. stock market and the cryptocurrency market has paused
Miroslaw Bawulski 08:03 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 11

Bitcoin and Ethereum have both reached new annual lows, mirroring a decline in the U.S. stock market, which has now fallen for the fourth consecutive week. Yesterday, the crypto market
Miroslaw Bawulski 09:03 2025-03-11 UTC+2

BTC/USD Analysis – March 11th: Has Bitcoin's Decline Ended?

The wave structure on the 4-hour BTC/USD chart is quite clear. Following the completion of a five-wave bullish trend, the market has entered a downward phase, which currently appears
Chin Zhao 08:39 2025-03-11 UTC+2

Bitcoin at Risk: Will the Trend Reverse After Mass Liquidations?

The past few weeks have posed a significant challenge for Bitcoin. In just a few days, its price fell below $85,000, leading to a wave of liquidations and causing investor
Ekaterina Kiseleva 00:16 2025-03-11 UTC+2

BTC/USD Analysis – March 10th

The 4-hour wave structure for BTC/USD is quite clear. After the completion of a five-wave bullish trend, the market has transitioned into a bearish corrective phase. Given this
Chin Zhao 11:51 2025-03-10 UTC+2

Trading tips for crypto market on March 10

Bitcoin and Ethereum have resumed their downtrend, as confirmed by ETF data showing another significant capital outflow. At the time of writing, Bitcoin has bounced off the $80,000 level
Miroslaw Bawulski 10:41 2025-03-10 UTC+2

Top analytics

Relevance up to 21:00 2025-03-14 UTC--4
Trading Recommendations and Analysis for EUR/USD on March 14: The Euro Pretends to Correct
03:38 2025-03-14
Trading plan
Relevance up to 21:00 2025-03-14 UTC--4
Trading Recommendations and Analysis for GBP/USD on March 14: The Pound Sterling Isn't Even Trying
03:38 2025-03-14
Trading plan
Relevance up to 13:00 UTC--4
EUR/USD: A Southern Impulse That Should Not Be Trusted
00:55 2025-03-14
Fundamental analysis
Relevance up to 07:00 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on March 13th (U.S. Session)
19:38 2025-03-13
Forecast
Relevance up to 11:00 2025-03-16 UTC--4
Euro Faces a Potential Coup d'Etat
00:45 2025-03-14
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.