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Blockchain Tracking Service Whale Alert posted an important warning that showed that 129.392 ETH was transferred from a non -created wallet to Coinbase when the Ethereum prize tumbled. Data to chains from Etherscan show that since November 2022 this specific wallet was not involved in the transfer of large ETH volumes. This sudden reactivation and deposition in a centralized exchange opens speculation of an imminent sale, especially Given the timing of the transfer.
Solid ETH transfer as tensions in the middle east escalate
Whale transaction tracker whale alerts, who initially reported The transfer to the social media platform X noted that at the time of the transfer, this 129,392 ETH $ 312,981,377 was worth this. The timing of the transfer is remarkable because it took place when the price of Ethereum could not retain more than $ 2,500 and had already begun to struggle to stay above $ 2,400.
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Etherscan’s tracking From transactions on chains indicates that the unknown wallet “0xd47b”, which was involved in the transfer, had been relatively inactive since the end of 2022. In particular, the last transaction was an inflow of 6,469 ETH from another wallet linked to Coinbase.
The latest transfer to Coinbase leans more to the possibility of a sale via the exchange. Since then, the Ethereum price has lost an important level of support at $ 2,450. The price has Especially cases in the last 48 hours.
Although other factors clearly contribute to the dip, in particular new geopolitical tensions after the US launched attacks on IranThis whale deposits in Coinbase may have increased the downward pressure. Exchange of this size of this size is a precursor of liquidation, especially now that the sentiment of investors is on the edge.
Beerarish Setup confirms adhesive goals
The technical image for Ethereum is now bearish, at least in the short term. Technical analysis of the 4-hour graph of Ethereum On the Trading Patform Platform Shows a clear Beerarish Breakdown setup after Ethereum has broken for $ 2,362 under a crucial line of support. That level of support has now been broken and the confirmation of the breakdown reinforces a bearish case.
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The graph above, which includes overlays of the Ichimoku cloud, shows a fading bullish momentum In recent days. Earlier failed attempts to break through resistance have left Ethereum in a vulnerable zone, and the recent whale sale may have yielded the final push that is needed to activate this leg down.
If the current process continues, Ethereum can be on way to re -test lows under $ 2,000. According to the TradingView analysis, potential reversal goals are $ 2,151 and $ 1,954, with a third possible level at $ 1,750 if the sale is more than expected. At the time of writing, Ethereum acts at $ 2,290, with 5.5% and 10% in the last 24 hours and seven days, respectively.
Featured image of dall.e, graph of tradingview.com