- Eth whales left before market crash, while in Livered short positions are in enormous profit.
- The crash eventually led Ethereum in the lower logarithmic regression trend line, a potential purchase zone.
In the run -up to the recent Ethereum [ETH] Market crash, smart whales took strategic steps to leave their positions, gaining substantial profit.
A remarkable Ethereum -Walvis, sleeping for six years, transferred 77,736 ETH, with a value of $ 228.6 million, to Bitfinex. This wallet initially withdrew the same amount for only $ 11.9 million in January 2019, when ETH was priced at $ 153 per token.
In addition, timed machibigbrother.eth the market flawlessly by depositing 1,000 ETH worth $ 2.85 million in Binance just before the crash.
This followed an earlier movement of 4,413 ETH worth $ 13.84 million for the same exchange.
Source: Arkham
These maneuvers by whales emphasized their market insight and possibly strengthened the impact of the crash on ETH. By allocating significant amounts of ETH, these actions can contribute to an increased sales pressure, which leads to a sharper decrease in the price of ETH.
These whale activities can indicate careful trade, where investors looking at similar patterns to predict future market movements.
Whales push ETH to the lower logarithmic regression trend line
As the ETH prize dropped, a whale that ETH Kortede saw with 50x leverage to rise their non -realized profit beyond $ 30 million. This aggressive short position has probably intensified the downward pressure on the price of ETH.
By betting heavily against ETH, the large lever trade of the whale could have caused important liquidations of long positions.
This continued the price. Such high leverage means that even small price movements can lead to substantial market effects.
Traders should probably remain vigilant for similar whale maneuvers, because they can predict whether even competitive market corrections can precipitate.
Source: Lookonchain/X
This manufactured price crash by Ethwales led the Altcoin in a logarithmic regressed pattern.
Historically, Ethereum moved above the middle line of this channel during Peak Bull Runs, as seen in the end of 2021 when it rose to $ 4,000.
However, recent trends show a decisive shift. By June 2024, ETH approached the lower limit of this trend, which indicates a bearish phase with a gradual descent to a support level near $ 1,750.
This lower trendline interaction often means a crucial area where the market re -assesses the value of Ethereum. The current positioning at around $ 2,526 corresponds to historical supports that have previously catalyzed remarkable rebounds.
Source: Trade reproduction
If ETH maintains stability above this lower limit, a revival of the Middle Channel level could follow around $ 3,500. Conversely, it cannot retain the sales pressure.
Read Ethereum’s [ETH] Price forecast 2025-26
This could encourage the prices to deeper support at $ 1,200, which is a reflection of extensive market corrections.
Such a delicate balance indicates the critical nature of the current levels when shaping Ethereum’s market dynamics in the medium term.
Credit : ambcrypto.com
