The article discusses the recent actions of crypto whales and their impact on the price of Ethereum (ETH). A large whale dumped 20,000 ETH, worth $52.84 million, to the Kraken exchange, reducing their holdings to 50,874 ETH worth $134.80 million. This is not the first time this whale has dumped ETH, as a similar sale occurred on January 16, 2025. Additionally, traders holding long positions are over-leveraged at the $2,615 level, with $109 million at stake. The combination of whale dumps and bearish bets suggests that bears are currently dominating, which could have a significant negative impact on the price of ETH. Technical analysis indicates that ETH is consolidating near a crucial support level at $2,550. If this support holds, there is a strong possibility of a surge in the asset's price. However, if ETH fails to hold this level and dips below $2,500, it could drop by 10% to reach $2,220.



Other News from Today