🐋 Ethereum Mega Whale Liquidation Almost Complete 💰

A massive Ethereum whale, which acquired 200,000 ETH from the Genesis Block in 2015, is close to finishing its liquidation. Today, 3,370 ETH (around $11.37 million) was transferred to Kraken, marking another step in this year’s substantial sell-offs.

🌐 Whale's Effect on Ethereum 📉

In 2024, the whale sold 48,687 ETH (worth $171.78 million) at an average price of $3,528 per ETH. Now, only 7,594 ETH remains, valued between $25–$72 million depending on the market.

The selling has sparked concerns about short-term price dips due to increased supply. However, the nearing end of the liquidation could relieve some downward pressure on Ethereum's price.

📊 Ethereum Price Insights 🚀

Ethereum is stabilizing around $3,390, supported by the 200 EMA at $3,006 and the 100 EMA at $3,219. Staying above these levels shows strength, while dropping below may indicate bearish momentum. Reclaiming $3,528 (the whale’s average selling price) could boost market confidence.

🔑 Key Takeaway

As this whale's sell-off wraps up, Ethereum could stabilize. Watch critical support levels at $3,219 and $3,000, as well as resistance near $4,000, to anticipate future movements.$ETH

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