Attention, Ethereum! Preparing for a drop to $3,000? 📉
Whales are making their moves, and the future of Ethereum (ETH) seems to be at a crossroads. Despite impressive inflows of $5.4 billion in ETH ETFs in July, the price might be gearing up for a decline to the $3,000 area before any rebound.
What's happening?
* Whale selling: A giant whale has deposited $93 million in ETH across various exchanges, suggesting it may be anticipating a drop to liquidate its positions. This massive sell-off could put downward pressure on the price.
* Institutional accumulation: At the same time, another whale has withdrawn $36 million in ETH from exchanges to hold, and new wallets have purchased over $2.85 billion in ETH since July. This long-term accumulation shows confidence but does not rule out a short-term correction.
The forecast
The liquidity map shows a weak support zone between $3,400 and $3,100, making a move toward $3,000 very likely. The thesis is that Ethereum could purge this liquidity, bottoming out at $3,000, before regaining momentum and aiming back at $3,900.
Situation summary:
The most likely path for Ethereum is a drop to $3,000 to "clean" the market of sellers, before institutional momentum and ETF inflows push it back up.
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