Yes

>>A significant sell-off of Ethereum by a large investor is raising concerns that the price could fall by as much as 12% if it fails to hold above the $4,430 level.

A significant sell-off of Ethereum by a large investor is raising concerns that the price could fall by as much as 12% if it fails to hold above the $4,430 level.

crypthub

4 days ago

Whale Sell-Off and Price Impact

A major Ethereum holder recently sold 45,000 ETH (~$208 million), significantly impacting the market. This large sell-off increased short-term selling pressure, pushing the price below a key resistance level and placing crucial support at $4,430 at risk. A breach of this support could trigger a corrective pullback of approximately 12%, targeting around $3,860.

Technical Levels and On-Chain Data

The $4,430 level is now a critical point for ETH price action; a failure here could lead to further declines. Ethereum network activity has also decreased, with active addresses falling substantially in the past 24 hours. Trading volume increased during the price drop, indicating heightened selling participation.

Trader Response and Outlook

Traders should closely monitor the $4,430 support level and employ cautious strategies. It's recommended to use stop-loss orders, manage position sizes, and avoid over-leveraged trades near liquidation zones. The ADX reading suggests weak momentum, so market movements are prone to quick reversals.