WazirX hacker transfers $6.54 million in ETH: Impact on Ethereum

Event Overview: On September 3, the WazirX hacker transferred 2,600 ETH (worth about $6.54 million) to Tornado Cash. This action has raised concerns about the price of Ethereum.

Market Impact: If the hacker sells off his remaining 59,156 ETH, it may put downward pressure on the price of ETH. The current ETH price fluctuates in the range of $2,400 to $2,555. If it falls below $2,400, it may fall further to $2,200.

Technical indicators and trends: ETH is currently in the upper part of the consolidation zone, indicating a possible 4% drop to $2,400. The relative strength index (RSI) is in the oversold zone, which may indicate a price rebound.

Exchange reserves: Since August 29, the reserves of ETH on exchanges have increased, showing increased selling pressure from investors. The main liquidation levels are below $2,490 and above $2,550, and the market has high leverage to these levels.

Despite the recent 2.7% increase in ETH prices and a 3.5% increase in open interest, investor interest in ETH is still increasing.

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