$ETH Whales Dumping 70 Million + Shanghai Upgrade Delayed + Death Cross: Is This the Last Drop or a Trap for Investors?
Ethereum's two-hour chart suddenly shows a "Volume Cliff," MACD death cross is emerging. Is this a bait for shorts or a precursor to a crash?
1. Latest News + On-Chain Data Triple Whammy!
1. Whale Dump Confirmed: Early morning, a certain address dumped 38,000 ETH (≈70 million USD) on Binance; after the transfer, ETH price dropped 2.8% in 5 minutes, marked on-chain as "Large Holder Cashing Out";
2. Ecological Bombshell: Ethereum core developers confirm the Shanghai upgrade is delayed to Q3, L2 tokens OP and ARB plummet more than 15% in a single day;
3. Regulatory Blow: The U.S. SEC requires Uniswap to submit user transaction records, daily active users on DEXs plummet by 38%, market fear index surges.
2. Three Major Death Signals on the Technical Front!
1. Volume Moving Average "Death Cross": The main force is sharpening its knives, MA5 (388,000 ETH) crosses below MA10 (309,000 ETH); this pattern last appeared before ETH plummeted by 20%; price stuck between $1850-$1800, volume system warns: "Low Volume Consolidation, Either a Bottom or a Pitfall."
2. MACD Energy Drain: Bulls Running Out of Steam, DIF and DEA opening downwards, MACD bars shrink to -50, death cross is just a step away; On-chain evidence: perpetual contract funding rate drops to -0.025%, shorts incur costs holding positions, large funds are crazily withdrawing leverage.
3. Divergence Between Volume and Price: Odd trading going on, current two-hour trading volume is 65,000 ETH, less than 1/6 of MA5, but estimated volume is inflated to 267,000 ETH; the main force is playing both sides, price consolidates around $1850, retail investors become easy targets.
I am Tang Seng, supported by a top-tier team, serving only those with vision and ambition!