Ethereum price forms a cross of whales

PRICE ETAREUM has a cross -death pattern, which risks more descending momentum as whales continue to sell.

ethereum (EthIt decreased to 2600 dollars on Thursday, a decrease of more than 35 % of its highest levels in December last year.

This decrease occurred, the network continued to see the weak demand among investors. The funds circulated in Ethereum Ethereum were $ 40.95 million on Wednesday, which amounts to cumulative flows to $ 3.1 billion.

There are signs that some Ethereum whales continued to empty the symbols. according to LookonchainAnd one large whale returns 20,000 icons worth $ 52.8 million for a corner. The same whale sold 20,000 symbols in January and now has the distinctive symbols of $ 134 million.

The sale of whales is often seen as a negative incentive for encrypted currencies because these investors are more experienced and developed.

Ethereum also continued to lose its market share in the main areas. For example, Tokenerminal The data indicates that ETHEREUM has received a fee of $ 179 million this year. Other famous Blockchain networks, such as Circle, Solana (Teller), Geto, you see, and tension.

Ethereum price is an intersecting pattern of death

There is a risk that the ETH price has more negative side to go. The death cross was formed on the daily chart, as it exceeded the averages of lower movement for 50 days and 200 days. This cross is one of the patterns of the most drop in technical analysis. Ethereum decreased by more than 20 % when the death cross in August last year.

The currency also invalidated the formation of a back and shoulder head pattern when less than $ 2821 decreased, which was his right shoulder.

ETHEREUM also formed a dual plan for $ 4100, which is $ 2,140. Therefore, there is a risk that it will soon have a strong collapse.

The initial goal of this procedure will be the price of $ 2,140, ​​which is a 20 % double neckline lower than the current level. Less decrease in this level will indicate more from the negative side, and it may reach $ 1530, which is the slightest swing in November last year.

On the other hand, the bounce above the moving average for 200 days at 3,090 dollars will nullify the declining supply and indicate more upward trend.