LONG it

⚠️📉 Ethereum Price at Risk of $2,600 Crash as 110K $ETH Hits Exchanges 💥

📊 ETH Faces Selling Pressure
Ethereum (ETH) is trading at $3,358, down 25% from its yearly high of $4,107. It’s currently stuck between two critical levels: $3,613 resistance and $3,029 support. A breakout above $3,613 could trigger an uptrend, while a break below $3,029 risks a drop to $2,600.

📉 110K ETH Floods Exchanges
An influx of 110,000 ETH onto exchanges signals rising selling pressure. Typically, such spikes indicate profit-taking or using ETH as collateral, hinting at potential downward momentum as investors prepare to offload their holdings.

🐋 Whales Are Taking Profits
The Network Realized Profit/Loss (NPL) indicator showed profit-taking spikes on December 23 and 26. Positive NPL spikes after a crash suggest holders lack confidence in a rebound, increasing the likelihood of further price declines.

⚠️ Key Support Levels to Watch
If Ethereum breaks below the $3,029 support, a drop to $2,600 becomes increasingly probable. On-chain trends, profit-taking signals, and rising exchange reserves support this bearish scenario.