Ethereum holds up better than Bitcoin in the face of market shocks
Global tensions are shaking the financial markets, and cryptocurrencies are feeling the impact. Despite this, Ethereum (ETH) has stayed above $2,500, which shows strength in uncertain times.
Ethereum is doing better than Bitcoin during this chaotic market.
In simple terms, ETH holds steady above $2,500 amid global chaos, proving its resilience. It’s trading within a narrow range between support at $2,500 and resistance at $2,700, waiting for a breakout. Before recent issues, ETH outperformed Bitcoin by around 40% and kept stable despite market stress. A clear move above $2,700 could push Ethereum toward $3,000, but investors remain cautious.
Resistance remains a key barrier. In April, ETH saw a small rally and gained some momentum, but that strengthened faded by mid-May. Since then, its price has been stuck, bouncing between support and resistance levels.
The token briefly broke above $2,700 but failed to hold the gain. The price quickly dropped back into its range. Since then, ETH has traded sideways, with buyers and sellers roughly balanced. This sideways move suggests strong underlying support.
The $2,500 level acts as a floor for ETH. This level has been tested multiple times and has acted as both a barrier and a bounce point. If it holds, buyers could regain hope.
Despite turbulence, Ethereum has outperformed Bitcoin recently. Analyst Ted Pillas noted that ETH has done better on weekly charts. Even with global worries, ETH has shown resilience.
Before the recent troubles, ETH was clearly ahead of Bitcoin. Between May 8 and 13, ETH gained roughly 40% against BTC, rising from 0.0186 to 0.026.
Since then, even as the crisis worsened, ETH has stayed stable, trading between 0.0226 and 0.0261. This shows strong support and strength. Positive news could push ETH even higher. If this trend continues, more money might flow into ETH and other altcoins, supporting higher prices overall.
Large investors are also buying heavily. A whale wallet, tracked by Lookonchain, bought 3,000 ETH for $7.48 million. In four days, that same wallet added 11,500 ETH, spending nearly $29 million.
Another whale, who had made over $30 million from ETH before, returned to buy 15,000 ETH for $37.15 million at $2,477 each.
Data from Glassnode shows that for nearly a week, whales bought over 800,000 ETH daily. This pushed holdings for wallets with 1,000 to 10,000 ETH to over 14.3 million tokens.
On June 12, whales added more than 871,000 ETH, the highest daily inflow of the year. Such buying has not been seen since 2017.
The technical signs show both caution and opportunity. Ethereum’s recent moves suggest it could rise. Key indicators are starting to look positive, but a breakout is not guaranteed yet.
The 50-day moving average has moved above the 100-day average, hinting at possible medium-term growth. ETH is just above both lines, showing some upward momentum but no clear breakout so far.
To confirm a strong uptrend, ETH needs to break past $2,700 decisively. The current calm in trading shows investors are cautious.
If ETH can stay above $2,500 and break resistance, it could head toward $3,000. The situation remains uncertain, and the price might stay in this range for now. Still, technical signals are improving. If tensions in the Middle East ease and market confidence returns, Ethereum could see further gains.