Ethereum is experiencing intensified selling pressure due to increased whale activities. The cryptocurrency’s price has retracted after reaching a recent high, causing concerns over market stability.
Significant sell-offs have occurred among whales, with 5,677.7 ETH tokens valued at 14.03 million USD recently offloaded. A key transaction involved a whale selling 4,677.7 WETH for 11.52 million USDC.
If selling pressure persists, ETH may decline further, with suggested support at 2,188 USD and potential resistance at 2,864 USD.
Leave a Reply