Ethereum

Crash

2024

Spot

<p>Ethereum crypto is currently at a decisive turning point. Its price is flirting with a crucial support at $2,300. But that’s not all! The sales of ETH whales also continue to fuel the bearish pressure. What does the future hold for the world’s second-largest crypto blockchain?</p>
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     <p lang="en" dir="ltr">The Ethereum whale, who received 150K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> during ICO, deposited another 5K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($12.2M) to Kraken just 4 hours ago.<br><br>In total, this whale has deposited 45K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($113.3M) to <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kraken</a> over the past 15 days at an average price of $2,517, leaving 94,450 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($230M) remaining.… <a href="https://t.co/2BLcWey4Kx" rel="noopener noreferrer nofollow">https://t.co/2BLcWey4Kx</a> <a href="https://t.co/TnlbdrGV3d" rel="noopener noreferrer nofollow">pic.twitter.com/TnlbdrGV3d</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1843461730015555955?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 8, 2024</a>
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  Massive sale of ETH crypto
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<h2 id="h-ethereum-au-bord-d-un-tournant-crucial-le-support-a-2-300-peut-il-resister">Ethereum on the edge of a crucial turning point: can the support at $2,300 hold?</h2>
<p>According to crypto analyst Ali Martinez, the <a href="https://www.cointribune.com/en/crypto-markets/ethereum-eth-en/" target="_blank" rel="noopener noreferrer nofollow">Ethereum price</a> is dangerously approaching the $2,300 level. This is a <strong>key support identified</strong> by several other cryptography experts. According to Martinez, this threshold is crucial for the short-term survival of ETH.</p>
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 <p><em>“If the price of Ethereum falls below $2,300, we could see a massive 30% correction, bringing ETH down to $1,600.”</em></p>
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<p>This <a href="https://twitter.com/ali_charts/status/1843449731634344106" target="_blank" rel="noopener noreferrer nofollow">warning</a> is based on the fact that 2.77 million addresses collectively hold 52.65 million ETH around this price level. Two scenarios may unfold:</p>
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 <li><strong>If the bulls fail to defend this area, it could mark the start of an even more pronounced bearish phase.</strong></li>
 <li><strong>If, on the other hand, the support holds, Ethereum could bounce back and reach a price of $6,000 in the medium term.</strong></li>
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<h2 id="h-les-ventes-massives-des-baleines-pesent-lourdement-sur-le-prix-de-l-ethereum">Massive whale sales heavily weigh on Ethereum’s price</h2>
<p>The price of Ethereum is also affected by the continuous sales of whales. For example, over the last 15 days, a <a href="https://www.cointribune.com/en/an-ico-whale-sells-47-million-in-eth-and-causes-a-crash-in-the-crypto-market/" target="_blank" rel="noopener noreferrer nofollow">historical whale from the ICO era</a> has <strong>deposited 45,000 ETH on Kraken</strong>. This represents around $113.3 million. According to Spotonchain data, this whale initially received 150,000 ETH during Ethereum’s ICO.</p>
<p>Recently, <strong>a transfer of 5,000 ETH</strong> was also made to a crypto exchange. This increases the bearish pressure on the market.</p>
<p>Analysts estimate that the <a href="https://www.cointribune.com/en/ethereum-in-crisis-crypto-whales-liquidate-151-million-in-24h/" target="_blank" rel="noopener noreferrer nofollow">continuous sale</a> of ETH whales weakens the bulls’ ability to maintain the crucial support at $2,300. This constant pressure could <strong>accelerate Ethereum’s fall</strong>, especially if market sentiment does not change quickly.</p>
<p>The <a href="https://www.cointribune.com/en/10-years-of-crypto-innovations-heres-how-buterin-sees-the-future-of-ethereum/" target="_blank" rel="noopener noreferrer nofollow">future</a> of Ethereum thus remains uncertain. Crypto investors will need to be attentive to market movements in the coming days.</p>
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Ethereum At A Crossroads: An Imminent 30% Crash

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