Ethereum bounced back after dropping below $1,200 – Cryptonium News

Ethereum bounced back after dropping below $1,200

Ether (ETH) fell to $1160 in early trading on December 20. By late afternoon, support strengthened and the altcoin rebounded back above $1200.

At the time of publication, ETH was trading at $1211.
Trading returned to the green zone and the coin will try to break through the $1220 resistance again; the RSI indicator indicates that the asset is oversold, so ETH could surge to $1250 in the next 24 hours.

A strong support zone for the altcoin has formed around US$1150.
It will take effect if there is no new wave of activity from the sell side, PeckShieldAlert analysts point out the warning signals.

The team discovered that a wall of whales, dormant since October 2018, was moving last Sunday. They redistributed a total of 22, 982 ETH worth $27.2 million.
Investigators also documented the activation of a key address associated with the failed hedge fund

Three Arrows Capital, which withdrew approximately 2, 000 ETH from its Binance exchange wallet on December 19, with $7.85 million worth of coins available for sale in the near future. 6, 595 coins remain. Could not upload all results. Repeated retries…