Attention, cryptocurrencies are crashing! 📉
Man, things are heating up in the crypto world! What started as a tremor has turned into a quake of epic proportions. We are seeing how investors, those who call themselves "whales" for having a lot of money, are dumping their ETH like hot potatoes. 🥔 Lookonchain reports that in just a few hours, they sold almost $150 million! It's a total panic sale that shakes anyone. 😱
But it's not just the big players in this game. Investment funds are also adopting the same attitude! Data from Coinglass shows that ETFs (funds that invest in ETH) are seeing massive outflows of money. Just on Monday, they shed almost $200 million! It's like watching a stampede of people leaving a bank. 🏃♂️
Now, the million-dollar question, will it recover or sink further? 🌊 Technical analysis tells us that ETH is approaching a key point, a "support" at $4,150. It's like a wall that, if broken, could fall deeper.
However, there is hope: the RSI, an indicator that measures if something is oversold, is already almost on the floor. This could mean that sellers are exhausted and buyers might step in to lift the price. If the play works out, we could see a strong rebound, even up to $4,790. 📈
The problem is that there is no big "push" on the horizon, like an interest rate cut that motivates people to invest in riskier things. So, for now, it all depends on whether people start believing in ETH again and the panic stops. We'll see if it manages to perform a miracle this week.$ETH
