The current market situation for Ethereum (ETH) remains extremely unstable. Analysts suggest that negative sentiment is impacting the market, potentially leading to significant price drops.
Technical Analysis of Ethereum
The past few months have adversely affected the overall cryptocurrency market, and ETH has lost multiple key support levels, including an ascending trendline and horizontal support zones. Currently, the ETH price is approximately $1,465, with a risk of breaking below the critical level at $1,475.
Ethereum Price Predictions
According to expert analysis, if ETH closes below the $1,450 level, the price could decline by 30%, potentially reaching $1,000. At present, ETH is trading below the 200-day exponential moving average, indicating a strong bearish trend.
Whale Sell-off of ETH
On April 8, 2025, a cryptocurrency whale sold 10,000 ETH for $15.71 million. The investor had purchased these tokens between October and November 2022 at an average price of $1,292. Despite the recent price drop, he realized a profit of $2.75 million, although he would have gained $27.60 million had he sold at the peak.
With current negative trends in the market and recent actions of large investors, Ethereum faces the possibility of significant price drops. Investors and traders are keenly monitoring the situation.
