Ethereum

Convergence

Divergence

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-faces-significant-price-decline-due-to-whale-activity/" data-wpel-link="internal">Ethereum Faces Significant Price Decline Due to Whale Activity</a><br></p>
<p style="text-align: justify">The second largest altcoin in the crypto world, <strong><a href="https://en.coin-turk.com/ethereum-foundations-recent-eth-movement-raises-speculation/" data-wpel-link="internal">Ethereum</a></strong>, has experienced a significant price drop over the past 30 days. As of the time of writing, ETH is trading at $2,529 after a 1% increase in the last 24 hours, but it has seen a 2.52% decline over the past 7 days. This overall price decline has been reflected in the charts as whales have been offloading their Ethereum holdings over the past few weeks.</p> 
<h2 style="text-align: justify" id="what-did-ethereum-do">What Did Ethereum Do?</h2> 
<p style="text-align: justify"><strong>ETH</strong> whales have shown a decline in trading activities over the past 30 days, paralleling the double-digit drops in ETH prices. This can be understood from the decrease in the number of large transactions in the past month. According to <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> from IntoTheBlock, the daily number of ETH transactions valued between 1 million and 10 million dollars has decreased by 5% during this period. Meanwhile, the daily number of transactions exceeding 10 million dollars has decreased by 45%, as reflected in the charts.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-384292" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-1-eth-eth-coin-turk-com.png" alt="" width="461" height="280"></p> 
<p style="text-align: justify">On the other hand, the net flow of whales for Ethereum has decreased by 77%. Large holders, or whales, are defined as the group of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> who own more than 0.1% of the circulating supply of the asset. The net flow of large holders can be interpreted as the difference between the amount of ETH these whales bought and sold during a specific period.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-384293" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-2-eth-eth-coin-turk-com.png" alt="" width="500" height="274"></p> 
<p style="text-align: justify">When there is a decrease in the net flow metric of large holders, it is generally interpreted as whales reducing their holdings, which can often be seen as a precursor to a price drop. The decline in transactions carried out by whales can negatively impact market sentiment, often occurring before larger price drops.</p> 
<h2 style="text-align: justify" id="eth-price-prediction">ETH Price Prediction</h2> 
<p style="text-align: justify">Ethereum’s Moving Average Convergence Divergence (MACD) is moving towards a crossover where the MACD line (blue) falls below the signal line (orange), which is considered a bearish indicator. Such a crossover generally indicates a strengthening downtrend and reinforces the view among traders that it might be an important time to consider selling or taking profits.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-384294" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-3-eth-eth-coin-turk-com.png" alt="" width="486" height="219"></p> 
<p style="text-align: justify">An increase in selling pressure could lead to a price decline towards the $2,112 level seen on August 5th. On the other hand, if there is a reversal in market trend and an increase in buying activity, the price could potentially return to $2,867.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-faces-significant-price-decline-due-to-whale-activity/" data-wpel-link="internal">Ethereum Faces Significant Price Decline Due to Whale Activity</a></h5>
<p>The post <a href="https://en.coin-turk.com/ethereum-faces-significant-price-decline-due-to-whale-activity/" data-wpel-link="internal">Ethereum Faces Significant Price Decline Due to Whale Activity</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Ethereum Faces Significant Price Decline Due to Whale Activity

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