ETH Night Escape! Whales Pressing Down with 40% Increase All are Traps
Brothers, keep an eye on the market! Ethereum is currently stuck around $1940, and on the surface, it looks like it’s about to break through. In reality, there are 4 million ETH trapped above, which is a typical 'fishing line' trap, specifically designed to harvest retail investors. I checked the on-chain data three times, and the operator is using the 'closing the door to beat the dog' tactic this time—every time it rises by 1%, there’s a selling pressure worth $190 million that comes crashing down, leaving no escape for the bulls.
Looking closely at the on-chain data, 26,000 whale wallets have buried 4.1 million ETH as 'mines' in the $2700 to $3200 range. These positions are like timed bombs; once the price touches $2600, it will trigger a snowball effect of liquidations. Don’t be fooled by the 40% space away from this danger zone; exchange data doesn’t lie—over the past three days, 180,000 ETH have already rushed into the selling channels, with Bitfinex alone placing 72,000 sell orders at $2700, equivalent to $1.5 billion of firepower aimed at the bulls. This pressure is no joke.
Technical indicators are even more disheartening. The EMA24 golden cross on the 4-hour chart is just a decoration, the MACD red bars have been flat for 12 consecutive periods, and seasoned investors know this is a signal for a crash similar to an 'old duck head.' Worse still, the RSI has surged to 78.6, severely overbought, and the daily divergence is even more exaggerated than before the massive crash in 2018. Grayscale institutions ran away with $29 million yesterday; the smart money has long fled, and those still in the market are mostly new retail investors fooled by TikTok.
If it falls below $1900, the next defense line is $1850, supported by 2.12 million ETH from old miners, which is considered the last hope. But if this position can't hold, the $5 billion in long positions across the network will instantly vanish into thin air.
Are you trapped? When to bottom fish? As always, if you feel lost and helpless and don’t know what to do, tap your profile picture to follow + comment. I need fans, you need references!!!
