Altcoin King Ethereum (ETH) $1,920.32Has lost 46 billion dollars from the market value in the last week by falling below the level of 2 thousand dollars. In this period, ETH became one of the weakest market Altcoins, which weakened with 10.64 percent depreciation. Although technical indicators indicate that the extreme sale zone has been entered for the King of Altcoin, whale level investors’ sales price continues to suppress.
Whale transferred 7 thousand pieces of ETH to the stock market
Ethereum price There was a great mobility in the network while falling. According to internal data, an Ethereum whale that has been still standing for years has moved the ETHs it has held since the ICO period. Accordingly crypto currency His whale transferred 7 thousand ETH (13.8 million dollars) to the Kraken stock exchange.
This process EthIt took place when it fell to the level of 760 dollars. Although the price is now returned to the level of 900 dollars, the whale still holds 30 thousand 70 ETH (about 50 million dollars). Experts continue to sell the new whale by creating a domino effect and bring a deeper decline in Altcoin’s price.
On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!
Although the decrease of ETH reserves on stock exchanges throughout the market gives a signal of accumulation, it is a sales signal. Moreover, great liquidations and market fluctuations can make it difficult to recover. As a matter of fact, in the last 24 hours, over 110 million dollars in ETH has liquidated the Long position. For 3 of the 6 largest stock exchanges funding rate He turned to negative. This situation says that sales pressure increases while recovering.
Critical Support Threshold for Ethereum: thousand 591 dollars
ETH price Two years fell below the price of the first time. ETH traded at a thousand $ 917 at the time of preparing the article, is traded under the price threshold of 2 thousand 58 dollars. This is an average Ethereum investorindicates that it is in harm.
ETH, which fell below the historical price, usually entered the capitulation periods. Currently, the most important support level for Altcoin stands out for $ 592. If the price falls below this level, 4.80 million ETH will be damaged, which can trigger a new wave of decrease.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
