Dec 1, 2025
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Ethereum Drops Below $3,000 as Whale Sells 5,000 ETH
Ethereum Price Decline:
- Ethereum fell below the critical $3,000 level, reaching around $2,800, causing market fear and prompting investors to reassess risk.
- Significant selling activity by major holders is observed, with a whale depositing 5,000 ETH (approximately $15.05 million) into Binance, signaling potential sell pressure.
- Since October 28, the whale has sold 25,603 ETH (around $85.44 million), indicating possible continued pressure if market conditions worsen.
Market Sentiment and Influences:
- Confidence in the market is fragile due to recent Tether reserve transparency concerns and speculative regulatory scrutiny.
- Rumors of a China Bitcoin ban have resurfaced, further amplifying investor fear.
- These factors contribute to heightened influence from whale distributions, potentially affecting price stability.
Technical Analysis:
- Ethereum struggles to regain momentum after losing the $3,000 mark, trading below key moving averages (50 SMA, 100 SMA, 200 SMA).
- The support zone at $2,750–$2,800 shows buyer defense, but attempts to recover above $3,000 have failed, reinforcing bearish trends.
- A breakdown from a small symmetrical triangle suggests sellers dominate short-term momentum.
- If $2,800 breaks, next support levels are $2,600 and $2,450, where stronger buyer interest may emerge.
- Reclaiming $3,000 with sustained volume is necessary to neutralize bearish pressure.
