【Crisis Approaching? Ethereum Whales Retreat, Key Price Levels Decide Life and Death!】

Ethereum is facing immense market pressure, whale interest is gradually fading, and trader sentiment is bearish. The current key price levels will determine the future trend of ETH, with breakthroughs or pullbacks imminent.

Whales Retreat, Ethereum Faces Bearish Risks

After Ethereum recently broke through its long-term downtrend line, it saw a slight increase that attracted whale attention. However, this increase was not sustained, and with the price entering a consolidation phase, whale interest has significantly weakened. In the past week, the trading volume of large transactions between $1 million and $10 million plummeted by 62.42%, while transactions between $100,000 and $1 million and between $10,000 and $100,000 also decreased by 43.14% and 27.94%, respectively. This trend indicates that institutions and major investors may have retreated, and market sentiment has turned bearish.

Market Sentiment Shifts, Traders Turn Bearish

The current long-short ratio for ETH is 0.95, with 51.17% of top traders holding short positions, reflecting overall market pessimism. The price of ETH is close to $1,805, down 0.55% in the past 24 hours, with trading volume decreasing by 40%, indicating a decline in investor interest.

Key Support Levels Test Ethereum's Future Trend

ETH is entering an ascending triangle pattern. If it fails to break through the critical $1,840 level, a pullback may occur, testing the $1,690 support level. If it breaks this level and closes above $1,840, a strong rebound may follow. Despite facing challenges in the short term, ETH remains above the 200EMA, suggesting that there is still upward potential in the long-term trend.

Conclusion: Critical Moment, Short-term Volatility is Crucial

The future trend of Ethereum will depend on whether it can break through the key level of $1,840. If it fails to do so, a significant decline may occur. Investors need to pay attention to price changes and respond cautiously to market fluctuations.