A strong correction of the Ethereum cryptocurrency is expected in the near future

Santiment analysts do not rule out a drop in the ETH rate in the near future. According to the team, the largest ethereum addresses have dramatically increased the volume of cryptocurrency on exchanges.

Investors usually send the asset to trading platforms for further sale. The volume of ETH placed by whales on exchanges has risen to its highest level since May 2021, the researchers emphasized.

According to their estimates, the $ 1500 mark is a strong support zone for ETH. However, if the whales do indeed sell off in the coming days, and the coin falls below this psychological level, it faces a pullback to support at $ 1350−1400.

The increased activity of traders signals an imminent return of turbulence to the market and an increase in the price range of the largest altcoin.

At the same time, there may be another reason for the accumulation of funds — according to Arthur Hayes, the price of ETH could triple in the next six months.