{"id":4773,"date":"2024-08-19T23:00:21","date_gmt":"2024-08-19T23:00:21","guid":{"rendered":"https:\/\/cryptd.in\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\/"},"modified":"2024-08-19T23:00:21","modified_gmt":"2024-08-19T23:00:21","slug":"ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600","status":"publish","type":"post","link":"https:\/\/cryptd.in\/ja\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\/","title":{"rendered":"Ethereum Sees Major Outflow From Mega Whales \u2013 ETH Price Drops Below $2,600"},"content":{"rendered":"<p>The crypto market has been challenging, and Ethereum (ETH), the second-largest cryptocurrency, is no exception. Despite its dominant position, the token has faced significant headwinds in recent weeks, with its price showing no signs of a sustained recovery.<\/p>\n<h2>Key Metrics Point To Continued Bearishness<\/h2>\n<p><a href=\"https:\/\/x.com\/ali_charts\/status\/1825542295321706864\" target=\"_blank\" rel=\"noopener\">According <\/a>to crypto analyst Ali Martinez, some of the largest Ethereum whales, holding over 10,000 ETH, have been steadily selling their tokens over the past month, with no indication of slowing down.\u00a0<\/p>\n<p>This mass exodus of large investors has contributed to ETH\u2019s 26% price drop over the last 30 days, narrowing its year-to-date gains to just 55% \u2013 making it one of the weaker-performing tokens in this timeframe.<\/p>\n<p>\u306b\u3064\u3044\u3066 <a href=\"https:\/\/www.newsbtc.com\/news\/will-ethereum-hit-3000-in-september-analyst-bets-on-80-odds\/\" target=\"_blank\" rel=\"noopener\">\u58f2\u308a\u5727\u529b<\/a> from these Ethereum whales has been a key factor in the token\u2019s ongoing consolidation at the bottom of the range it has experienced over the past seven months.\u00a0<\/p>\n<p>This bearish sentiment surrounding ETH is further exacerbated by the TD Sequential indicator, which has presented a <a href=\"https:\/\/x.com\/ali_charts\/status\/1825219001951404441\" target=\"_blank\" rel=\"noopener\">sell signal<\/a> on the cryptocurrency\u2019s hourly chart, potentially intensifying the current downtrend.<\/p>\n<p>Looking ahead, Martinez has <a href=\"https:\/\/x.com\/ali_charts\/status\/1824399991185526992\" target=\"_blank\" rel=\"noopener\">identified <\/a>key support levels that could come into play if the Ethereum price continues its downward trajectory. According to Martinez, a crucial support zone to watch is between $2,300 and $2,380, where 1.62 million addresses have purchased over 50 million ETH.\u00a0<\/p>\n<p>Maintaining this level will be crucial for bulls to prevent another sharp <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-lower-2550\/\" target=\"_blank\" rel=\"noopener\">crash<\/a>, similar to the one seen earlier this month, which saw the price retrace to the $2,100 level \u2013 a level not seen since February.<\/p>\n<h2>Potential Price Upside For Ethereum Ahead?\u00a0<\/h2>\n<p>Despite these bearish factors painting a dark picture for the second-largest cryptocurrency on the market, market researcher Leon Waidmann claims that a significant development has emerged that could signal a potential bullish shift for Ethereum.<\/p>\n<p>The researcher explained in a recent <a href=\"https:\/\/x.com\/LeonWaidmann\/status\/1825538816175903168\" target=\"_blank\" rel=\"noopener\">social media post<\/a> on X (formerly Twitter) that, for the first time, the ETH balance on cryptocurrency exchanges has dropped below 10%. This marks a notable milestone, as the amount of Ethereum held on exchanges is now lower than that of Bitcoin (BTC). Waidnmann said:<\/p>\n<p>The fact that there is significantly less ETH on exchanges than BTC is a highly encouraging sign. It suggests that Ethereum investors are increasingly withdrawing their tokens from <a href=\"https:\/\/www.newsbtc.com\/news\/ethereum\/ethereum-to-remain-under-bearish-pressure-as-taker-buy-sell-ratio-drops\/\" target=\"_blank\" rel=\"noopener\">trading platforms,<\/a> potentially indicating a shift away from short-term speculation and towards long-term hodling.<\/p>\n<p>Ultimately, the next move for the ETH price remains to be seen, whether the bulls or bears will get the upper hand, decide the next short-term movement for the token, and break the current consolidation phase.\u00a0<\/p>\n<p>At the time of writing, ETH trades at $2,580.\u00a0<\/p>\n<p>Featured image from DALL-E, chart from TradingView.com <\/p>","protected":false},"excerpt":{"rendered":"<p>The crypto market has been challenging, and Ethereum (ETH), the second-largest cryptocurrency, is no exception. Despite its dominant position, the token has faced significant headwinds in recent weeks, with its price showing no signs of a sustained recovery. Key Metrics Point To Continued Bearishness According to crypto analyst Ali Martinez, some of the largest Ethereum whales, holding over 10,000 ETH, have been steadily selling their tokens over the past month, with no indication of slowing down.\u00a0 This mass exodus of large investors has contributed to ETH\u2019s 26% price drop over the last 30 days, narrowing its year-to-date gains to just 55% \u2013 making it one of the weaker-performing tokens in [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":4774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ethereum Sees Major Outflow From Mega Whales \u2013 ETH Price Drops Below $2,600 - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/ja\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\/\" \/>\n<meta property=\"og:locale\" content=\"ja_JP\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Sees Major Outflow From Mega Whales \u2013 ETH Price Drops Below $2,600 - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The crypto market has been challenging, and Ethereum (ETH), the second-largest cryptocurrency, is no exception. Despite its dominant position, the token has faced significant headwinds in recent weeks, with its price showing no signs of a sustained recovery. Key Metrics Point To Continued Bearishness According to crypto analyst Ali Martinez, some of the largest Ethereum whales, holding over 10,000 ETH, have been steadily selling their tokens over the past month, with no indication of slowing down.\u00a0 This mass exodus of large investors has contributed to ETH\u2019s 26% price drop over the last 30 days, narrowing its year-to-date gains to just 55% \u2013 making it one of the weaker-performing tokens in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/ja\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-19T23:00:21+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593\" \/>\n\t<meta name=\"twitter:data1\" content=\"2\u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Ethereum Sees Major Outflow From Mega Whales \u2013 ETH Price Drops Below $2,600\",\"datePublished\":\"2024-08-19T23:00:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\\\/\"},\"wordCount\":442,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Screenshot_358-wwiNS5.jpeg\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"ja\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/ethereum-sees-major-outflow-from-mega-whales-eth-price-drops-below-2600\\\/\",\"name\":\"Ethereum Sees Major Outflow From Mega Whales \u2013 ETH Price Drops Below $2,600 - 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