Smart Whale’s Ethereum (ETH) Sell-off Impacts the Altcoin’s Price
According to Lookonchain, the drop in ETH’s price over the past day is due to a sell-off from a particular smart whale. Read more on CE....
- Lookonchain speculated that the drop in ETH's price was likely due to a sell-off from a single whale.
- The whale deposited 25K ETH to Binance and has about 8K ETH left unsold.
- The same whale also withdrew 16 million USDT recently.
- ETH's price decreased by 0.93% and was trading at $1,845.79 at press time.
- The drop in price pushed ETH's weekly performance further into the red at -3.26%.
- The 24-hour trading volume for ETH saw a 23.46% drop to around $6 billion.
- From a technical perspective, ETH was trading between the 9-day and 20-day EMA lines.
- A major bearish technical flag was on the verge of being triggered.
- If ETH closes the next 2 daily candles above the 9-day EMA line at $1,847, the bearish thesis will be invalidated.
The sentiment of the article is negative, focusing on the drop in ETH's price and the potential bearish indicators.