ETH Drops Below Key Support as Whale Sells Holdings to Pay Debt
The price of Ethereum (ETH) dropped over the past 24 hours after a whale sold 12,048 ETH to pay off debt. Read more on CE....
- A whale sold 12,048 ETH to repay debt, making over $2 million.
- The whale had previously bought 12,047 ETH from Binance when the price was around $1,768.
- The whale went long on ETH by depositing ETH to Aave and Compound.
- The sale caused ETH's price to drop below the $1,945 support level.
- ETH dropped 2.26% over the past 24 hours and was changing hands at $1,932.55 at press time.
- ETH has been experiencing a downward trend, down 5.94% on the weekly timeframe.
- If ETH closes a daily candle above $1,945 in the next 48 hours, it could rise to $2,065 and potentially $2,300.
- The MACD line crossed below the MACD Signal line, indicating a growing bearish trend.
The sentiment of the article is mostly negative, as it highlights the whale's sale causing a price drop and the bearish trend of ETH.