Ethereum.Fi Price Bounces Off Support Amid Whale Selling Pressure

I see that ETHFI has experienced a 4.37% increase, now trading at $0.98 after bouncing up from a support level of $0.90. Despite this recovery, technical indicators indicate oversold conditions, suggesting potential for further upward movement. However, ongoing whale selling pressure remains a concern, potentially impacting the short-term trend.

Analyzing the broader context, ETHFI's recent rebound from support levels hints at strong buying interest at lower prices, which could signal a potential reversal if the bullish momentum continues. The oversold signals support the possibility of a further price correction upwards, but the persistent whale selling pressure introduces a risk factor that traders should consider. It’s important to monitor whether these whales maintain their selling activity or if buying interest could overwhelm the selling pressure.

The technical setup presents a cautious optimism: traders might see this as a short-term buying opportunity if the price can break above key resistance levels with volume. However, if whale selling intensifies, ETHFI could face rejection and decline again. The critical support levels are key reference points for upcoming trading decisions, as their stability can influence the next moves of ETHFI in the market.