- The transaction occurred on Sun, May 08, 2022, 02:38:37 UTC.
- Ethereum has been down 4.72% in the last 24 hours.
A bearish reversal from the new descending trend line on May 04 indicates that the traders continue selling on minor pullbacks. Furthermore, the ongoing correction had recently breached the $2800 support and challenged the lower support level of $2500. Thus, if coin holders lose this support, the Ethereum (ETH) price may plunge to January’s bottom support of $2300.
Facing a bearish attack in the early days of April, the (Ethereum) ETH prices took a turnaround from the $3500 mark with an evening star pattern. Therefore, the bearish trend has decreased the market value of the Ether price by 28% in the last month. The deflation breaks below the $3000 mark and approaches the next psychological support of $2500. Furthermore, the increasing trend momentum evident by the rise in trading volume over the week bolstered the $2500 fallout.
The short-term correction continues under the influence of a resistance trend line, and the solid demand at $2500 holds a high possibility of a bullish reversal to the trend line. Under ideal bullish conditions, the reversal rally will hit the resistance trend line after surpassing the $2750 mark.
Whale Alert
Whale Alert examines transactions from several blockchains, interprets them, and stores them in a single standard format in its databases. A whale from an anonymous wallet has transferred 9,300 ETH to FTX. In addition, Whale Alert, a blockchain analytics and monitoring company highlighted that the transaction was worth 23,810,164 USD.
🚨 🚨 9,300 #ETH (23,810,164 USD) transferred from unknown wallet to #FTXhttps://t.co/Ah2TZSJ4LP
— Whale Alert (@whale_alert) May 8, 2022
Crypto whales are back in action, as hundreds of millions of dollars of ETH are being transferred overnight. The Whale Alert monitoring and analytical tool first identified the massive crypto transfer networks.
According to Whale Alert data, the transaction occurred on Sun, May 08, 2022, 02:38:37 UTC. According to CMC, the Ethereum price today is $2,562.02 USD, with a 24-hour trading volume of $22,389,637,463 USD. Ethereum has been down 4.72% in the last 24 hours.
