Ether Trades Near $2,250 as Large Holder Bets Roughly $45 Million on Rebound

Ether traded near $2,250, while a large holder placed a roughly $45 million bet on a rebound that aligned with Tom Lee's bottoming view.

Lee, a Wall Street strategist, has argued that selling pressure on Ether may be easing and the token could be near a floor. He gave no price target or timetable. Ether had fallen about 13% in the 30 days leading up to Nov. 7.

Daily momentum readings were mixed. The MACD crossed above its signal line, suggesting short-term momentum had turned higher. The relative strength index, or RSI, was 41, below neutral but above the oversold zone. Trend-strength readings continued to favor sellers.

Ether remained below its 200-day moving average near $2,310 and its 50-day average near $2,390. The nearest resistance areas were around $2,360 and $2,450. Support markers were near $1,850 and $1,860.