ATTENTION, CRYPTO COMMUNITY! An anonymous whale just dropped a $237 MILLION BOMB of Ethereum $ETH directly onto exchanges, in what appears to be the FIRST MOVE of a MASSIVE SELL-OFF. 😱 This comes just as ETH BROKE a KEY support that has held it up since 2022! 📉

Large Ethereum holders are reducing their holdings while mid-sized wallets are growing, indicating potential whale selling and potential downward pressure on ETH's price.

Key Points:

Ethereum is at risk of a 25% drop to $1,600 after failing to break above multi-year technical resistance.

A whale moved over $237 million worth of ETH to exchanges, aligning with increased ETH inflows on Binance for five consecutive days.

Wallet data suggests that large ETH holders are redistributing or offloading, increasing bearish pressure.

Ethereum's native token is showing signs of vulnerability after breaking below a key multi-year support level, just as a major whale appears to be selling hundreds of millions of dollars worth of ETH.

Technical Breakdown Targets $1,600 for ETH

On the two-week chart, Ether has fallen below the lower trendline of a symmetrical triangle that had held firm since mid-2022.

In March, the 200-day exponential moving average (200-day EMA; the blue wave) near $1,600 provided a temporary rebound, but the recovery stalled after reaching the 50-day EMA (the blue wave) around $2,545.

The 50-day EMA aligns with the triangle's lower trendline, forming a confluence of resistance that ETH bulls have repeatedly failed to overcome in recent months, including June.

Other indicators of bearish pressure include the Relative Strength Index (RSI), which remains below a multi-year descending trendline.

Despite recent price rebounds, the RSI has failed to break above trendline resistance, indicating waning bullish momentum and reinforcing the likelihood of a continued decline.

ETH risks retracing toward its 200-period EMA near $1,600 if this confluence of resistance holds, marking a potential 25% drop from current levels.

ETH Whale Wallets Unload Amid Stalled Recovery

Ethereum's on-chain data further highlights the risk of ETH price declines in the coming weeks.

In early June, two Ethereum wallets, 0x14e4 and 0x26Bb, unstaked and withdrew 95,920 ETH (~$237 million), according to Etherscan.

Of that, 62,289 ETH (~$154 million) has already been deposited into exchanges, including HTX, Bybit, and OKX, in the past 20 days. The remaining 33,631 ETH (~$83 million) still remains in the whale's address, potentially ready to be sold.

The data source Lookonchain believes the wallets are controlled by a single entity, which is considered a "giant whale."

Binance Recorded ETH Deposits for Five Consecutive Days

The whale's large ETH transfers to exchanges coincide with a recent report from CryptoQuant.

It shows that Ethereum inflows into Binance, the world's largest cryptocurrency exchange by volume, have persisted for five consecutive days.

Glassnode data reveals new underlying bearish trends.

The ETH supply held by addresses holding 10,000–100,000 ETH has declined sharply since mid-May, while the cohort holding 1,000–10,000 ETH has seen a parallel increase.

This indicates that large holders are splitting their wallets into smaller chunks or distributing ETH to new, possibly dumping, addresses, increasing the cryptocurrency's bearish bias.

Ethereum Analyst: Rise at $4,000 “A matter of time” Ether's bearish perspective contrasts with a broader bullish sentiment in the entire market. Agela analyst points out that Ether's breaking above his RSI weekly resistance, as discussed above, is just a "time issue."

This will be the catalyst for the price to rise," he wrote.

Other analysts also predict that Ether's price will recover toward $10,000 due to favorable technical indicators and continued capital flows into ETH-focused investment funds.

🔍 What's Happening?

The data doesn't lie, and the community is on alert:

1️⃣ 🐳 SIGN OF PANIC: That monstrous transfer ($237M) coincides with 5 CONSECUTIVE DAYS of record-breaking ETH inflows on Binance. Are they preparing to escape?

2️⃣ 🧠 SMART MONEY FLEE: Large holders (whales) are REDUCING their positions FAST, while mid-market investors are buying. Do they know something you don't?

3️⃣ 📉 TECHNICAL WHIRLWIND: ETH BROKE the symmetrical triangle (support since 2022) and crashed into brutal resistance 3 times. Analysts are shouting: $1,600 IS IN THEIR EYES! (A 25% crash!).

> "When whales swim toward exchanges... sharks smell blood in the water. This is CLASSIC before a CRASH." - Will YOUR portfolio be next? 😨

⚠️ WHY YOU SHOULD ACT TODAY?

It's not just a rumor: Charts and on-chain data CONFIRM the danger. If ETH loses $2,130...

→ The path to $1,600 is OPEN.

→ $237 MILLION ready to SELL will pressure the price... AND THEN MORE WILL COME!

🚨 AND YOU? WHAT WILL YOU DO?

👉 WILL YOU SELL before the crash or BUY the dip? COMMENT BELOW! 👇

👉 Do you think it's MANIPULATION or the START of a FREE FALL? LEAVE US YOUR OPINION! 💬

👉 🔔 SUBSCRIBE NOW! We'll notify you LIVE of the next whale move and CRITICAL levels to protect (or multiply) your capital. DON'T MISS OUT!

⚠️ DON'T WAIT TO LOSE EVERYTHING. The technical signal is clear, the on-chain data is screaming... and the whales HAVE ALREADY ACTED. Will you be a spectator... or a warrior? COMMENT, SHARE, AND SUBSCRIBE TO SURVIVE THE MARKET! 🔥