Ethereum Price Prediction: ETH Dropped 7.3% This Week Following BTC’s Nose Dive – What Do the Whales Do?

Ethereum Drops 7.3% as BTC Sells Off, Breaking Key Trendlines and Testing $2,730 Support

Ethereum (ETH) experienced a significant decline this week, dropping 7.3% following Bitcoin’s (BTC) sharp sell-off. This downturn led ETH to break several key trendlines, pushing its price to test the crucial support level at $2,730.

In the midst of this volatility, whale spending on Ethereum reached a multi-year high. Large holders, known as whales, are actively moving substantial amounts of ETH, signaling potential shifts in market sentiment.

What Does This Whale Activity Signal for ETH Next?

The surge in whale transactions often precedes significant price movements. Increased whale spending can indicate accumulation ahead of a bullish run or distribution before further declines. Traders and investors will be closely monitoring these activities to gauge Ethereum’s next direction.

As ETH tests critical support and whales stay active, market participants should watch for confirmation of either a rebound or further downside.

Stay tuned to Cryptonews for more updates on Ethereum’s price movements and market insights.
https://cryptonews.com/news/ethereum-price-prediction-eth-dropped-7-3-this-week-following-btcs-nose-dive-what-do-the-whales-do/

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