$ETH Sun has made another big move! He has sold half of his $ETH , which has significantly impacted the price of Ethereum.

Ethereum struggled to rise to $4000, only to be pushed down by Sun's actions, resulting in a direct drop of 17%. Ever since Trump won the election, the price of Ethereum began to rise, while Sun switched to selling mode. Especially last week, he sold $143 million worth of ETH all at once, causing the price of Ethereum to slide downwards like on a slide, with a drop of over 15% in the cryptocurrency market.

According to blockchain analysis company Spot On Chain, Sun Yuchen redeemed nearly 40,000 ETH from two staking platforms and deposited all this money into his trading platform HTX. Since November 10, Sun Yuchen has deposited over 100,000 ETH into HTX, with a total value of up to $400 million, and each deposit has coincided with price peaks.

Currently, the market sentiment is not very optimistic, with everyone feeling that the price of Ethereum might drop below $3000. Some analysts even predict that due to the selling by the whales, the price of Ethereum could fall to $2800.

However, not everyone is bearish; some analysts believe that the price chart of Ethereum seems to be forming an inverted head and shoulders pattern, which could allow the price to break through $4000 again, and possibly even rise to $5000.

That said, while some are optimistic, the current situation is indeed not very good, and the price of Ethereum may test the $3000 mark again. We need to be cautious and not be swayed by the market's volatility.

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