Ethereum whale suddenly takes action! $13 million ETH transferred to exchanges, market panic intensifies, is this the bottom-buying opportunity?
Recently, Ethereum's performance has been concerning, with its price directly dropping below $2,000, and a market cap evaporation of $46 billion within a week, reaching a nearly two-year low. Although the price has fallen more than 10%, technical indicators show that the market is oversold, and trading volume surged by 47%. This makes me wonder if now is a good opportunity to buy the dip?
Just when ETH dropped to $1,760, a long-silent Ethereum whale suddenly took action, transferring 7,000 ETH to the Kraken exchange. Although ETH later rebounded to around $1,900, this whale still holds 30,070 ETH, which could be sold at any time, putting significant pressure on the market.
In the past 24 hours, over $110 million in ETH long positions were forcibly liquidated, and market sentiment is very poor, with bears completely controlling the situation.
Currently, ETH's key support level is around $1,592. If the price falls below this level, it could trigger a larger decline, and market panic will further intensify. Although the oversold signals and the surge in trading volume may present a rebound opportunity in the short term, the whale's selling behavior and the fragility of market sentiment still raise concerns about future trends.
Ethereum's current market performance is contradictory: on one hand, the oversold signals and increased trading volume indicate a possible rebound opportunity; on the other hand, the whale's selling and the pessimistic market sentiment raise concerns that the price will continue to decline. I believe that the most important thing now is to remain calm, closely monitor the performance of the key support level, and be prepared to respond to market fluctuations.
If you are still confused, leave a message + follow, and I'll help you achieve profits!!!
