Ethereum Whales Are Buying Again — But Can They Outrun the Looming Death Cross?
Ethereum whales and retail investors are showing renewed buying confidence, but a potential 20-day/100-day EMA death cross threatens to reverse this early November momentum.Summary
Ethereum started November with optimism, trading around $3,875, as whale wallets increased their holdings by approximately 200,000 ETH, valued at $775 million, signaling renewed confidence. Retail traders also show positive signs, with the Money Flow Index (MFI) indicating money flowing in despite recent price dips, creating a bullish divergence.
However, this optimism is threatened by a looming technical indicator: the potential death cross, where Ethereum's 20-day Exponential Moving Average (EMA) crosses below the 100-day EMA, typically signaling seller control. A previous death cross in mid-October led to a 13.7% correction, and if this new cross confirms, it could negate current buying pressure, especially as long-term holders continue to sell.
Ethereum's short-term direction hinges on whether accumulation can push the price above the 100-day EMA, potentially invalidating the cross and leading to a breakout toward $4,069 and higher. Conversely, confirmation of the death cross could lead to a breakdown toward $3,680 or $3,446.
(Source：BeInCrypto)