ETH Drops Below Key Support as Whale Sells Holdings to Pay Debt

Coin Edition
Coin Edition

18 Nov 2023 7:48 AM

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.

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You May Ask

How much did the whale make from selling 12,048 ETH?When did the whale buy the ETH and at what price?How did the whale go long on ETH?What is the current price of ETH and how much has it dropped in the past 24 hours?What is the potential price target for ETH if it closes above $1,945 in the next 48 hours?

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