Ethereum 2878 Incredible Mass Escape! Major Withdrawal Signal Exposed, Tonight This Price Level Decides Life and Death!

Last night, the Ethereum market was truly explosive; it seemed ready to surge above $2900, but suddenly crashed through $2800, dropping directly to around $2740. How many people didn't sleep well last night! There is clearly significant capital at play behind this operation, and we need to see what tricks the major players are up to.

First, institutions suddenly pushed the price up, instantly reaching $2878, triggering a lot of short positions to explode, but immediately after, three attempts to breach $2870 were slammed back down by huge sell orders, indicating that big players were offloading. As a result, the bulls couldn't hold on and crashed directly, with $380 million liquidated in 24 hours — devastating!

Why the sudden plunge? Three key reasons: First, there was a large transfer of 50,000 ETH on-chain, with a giant whale cashing out at a high price; second, the SEC delayed BlackRock's ETF application, making institutional funds hesitant to enter the market; third, exchanges took advantage of the contract fee skyrocketing to 0.15% to harvest the bulls, leaving the retail investors cut down once again.

The technical aspect is even scarier, as $2870 formed a "triple top" structure, and the MACD confirmed a bearish trend with a death cross. The $2800 support is as fragile as paper, breaking with just a touch. After losing the critical level of $2766, the market panicked, and the RSI fell into the oversold zone, making a short-term reversal very difficult.

What's next? In the short term, focus on $2740; if it breaks down, it will likely plunge to $2680. If a reversal is desired, it must reclaim $2766 with significant volume, otherwise, any bounce is just a chance to escape. The mid-term outlook is more dangerous; if the weekly close is below $2700, the weekly chart might form a "evening star," officially confirming a downtrend. Unless it can forcefully break through $2878 and stabilize above $2850, don't easily try to catch the bottom.

What should retail investors do now? Three simple steps: First, stop-loss if $2740 breaks, don’t hold on stubbornly; second, if the bounce doesn’t exceed $2780, consider going short with a target of $2680; third, those heavily invested should reduce their positions during a bounce to protect their capital. Additionally, the U.S. CPI data will be released on Thursday, and volatility may exceed 10%; those using leverage should reduce their positions in advance to avoid being swept away by sudden market movements!

In summary: The major players have already run away, don’t naively catch the falling knife; withdraw if critical levels are broken, and wait for the market to stabilize before looking for opportunities!

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