Whales Sell 760,000 Ethereum in Two Weeks, Market Sentiment Weakens
Ethereum (ETH) is trading below $1,900, reflecting a decline of over 35% since late February. Market sentiment is fearful as bullish momentum fades and selling pressure persists.
- Whales have sold approximately 760,000 ETH in the last two weeks, contributing to bearish market conditions.
- This sell-off by large holders indicates declining confidence, often leading to additional selling by smaller investors.
- Macroeconomic uncertainties are affecting financial markets, straining high-risk assets like Ethereum.
- Despite potential for recovery if conditions stabilize, poor price action and negative on-chain data are dampening optimism.
- Current trading range is between $2,000 resistance and $1,750 support; bulls struggle to reclaim the $2,000–$2,200 zone.
- If ETH cannot hold above $1,900, further declines could occur, possibly retesting lower levels around $1,700.
The outlook remains fragile, with continued selling likely unless bulls can restore confidence and break key resistance levels.
