Ethereum buying increases as it could rally back to $2,200

Ethereum (ETH) buying has increased since the beginning of March, as large holders appear to be anticipating a short-term ETH rally.
Capital said in a post on X on the 19th that ETH must recover the "macro range" above $2,200 to reverse its downward trend.
He analyzed, "If ETH price shows a strong reaction in this range, it could recapture the macro range of $2,196 to $3,900."
According to the analysis, for ETH price to secure additional upward momentum, it needs to reach a “macro range.”
However, the price needs to recover to above $2,200, which is the “range.”
Global macroeconomic concerns are likely to persist into early April, putting pressure on the cryptocurrency market at large.
According to data from TradingView, Ethereum is 20
After hitting $4,100 on December 16, 2024, it fell by more than 51% in three months. ETH has seen positive developments, including the US Securities and Exchange Commission (SEC) dropping its lawsuit against Ripple.
Some analysts believe that traditional financial and cryptocurrency markets will continue to be under pressure from concerns about a global trade war until early April.
In the virtual currency market, there is often criticism that large investors (whales) are inducing price declines, but they are simply trading along with the market trend.
According to Nansen researcher Nicolai Sondergaard,
Sondergaard said on the 21st of last month in a Cointelegraph Chain Reaction broadcast that he was looking to raise ETH from 10,000 to 100,000.
"While whales holding ETH are continually buying up ETH, most investors are selling them," he said.
According to Glassnode data, wallets holding more than $100,000 in ETH
The number increased from 70,000 on March 10 to 75,000 on March 22. On the other hand, on December 8, 2024, when the ETH price was over $4,000, there were 140,600 wallets holding more than $100,000.
It has reached 00.