Ethereum surprises this week with brilliant performances, even outperforming Bitcoin, with an increase of 28% compared to 18% for the queen of cryptos. The $3,000 threshold has been crossed, and traders hope to see the value of ETH climb further. However, worrying signs are emerging: a huge Ethereum holder, or “whale,” has just sold a significant portion of its stock, risking destabilizing the market. So, is a crash to be feared?
Massive Ethereum sales: a worrying signal
Latest Ethereum news: since November 7, a “whale” holding nearly 400,000 ETH, worth $1.28 billion, has initiated a wave of massive sales. This crypto giant has already traded 46,853 ETH against $138 million in USDC stablecoinpriced at $2,920 per unit.
More recently, 12,886 additional ETHor $41.24 million, was transferred to an exchange wallet, hinting at an imminent sale. To date, the whale still retains 352,036 ETHor approximately $1.27 billion.
This large-scale sales operation raises fears about the evolution of Ethereum prices. Because when the biggest players start selling, the market trend can quickly reverse.
If other whales decided to follow this path, a snowball effect could kick in, accentuating selling pressure and slowing the upward momentum observed recently.
- Total volume sold: 46,853 ETH ($138 million);
- Last sale: 12,886 ETH ($41.24 million);
- Original sale price: $2,920;
- Current position: 352,036 ETH ($1.27 billion);
- Critical resistance threshold: $3,000.
Crypto market: traders under tension
Analysts and investors are closely monitoring these transactions, fearing a reversal of trend. If Ethereum fails to maintain its course above $3,000, a break in this threshold could create a significant reversal. For traders, this resistance at $2,920 could represent a key point.
Panic could spread among small investors who, seeing these whale movements, risk sell to secure their gains or limit their losses.
Some observers even mention the possibility of a “domino effect” if other major holders follow suit. This context could push the flagship altcoin towards a price decline in the short term, impacting the entire crypto market.
For the most cautious, each new sale of these giants reinforces the idea that current Ethereum prices could be the highest reached in the near future. It remains to be seen whether this anticipation will materialize, or whether ETH will be able to thwart expectations.
For Peter Brandt, the forecast for Ethereum is gloomy: he envisages a fall towards $1,550 if buying signals continue to fail. Are investors getting tired of Ethereum?
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