ETH Whale Movements: $148M Transfer Sparks Market Jitters

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Big ETH holders just moved a ton of coins. Like, $148 million worth to exchanges. In three hours. That's huge.

The market's been in a bit of a tailspin lately. Not pretty.

Institutional money seems to be heading for the exits. Monday saw $196.6 million yanked from Ethereum ETFs - almost a record daily outflow. Add Friday's $59 million disappearing act, and we're looking at $256 million gone in two trading days. Seems like more than just taking profits off the table.

ETH's chart looks... complicated. It's stuck in this downward channel. But maybe slowing down? The RSI sits around 35. Getting close to oversold. ETH usually finds friends at these levels.

The MACD is kind of telling. After crossing bearish, the lines are now almost parallel. Not exactly screaming "sell everything" like some doom-predictors thought.

That $4,150 level matters a lot. It's where the last rally took off from. If buyers show up there and sellers take a break, ETH might start climbing again toward the channel's upper line.

Break out of the channel? We could see $4,790 - about 14% higher than now. Not bad if you're brave enough to jump in during this mess.

The bigger economic picture isn't helping much. Fed meeting still a month away. Rate cuts? Not entirely clear what's happening there. Any bounce we see might just be technical rather than anything fundamentally changing.

ETH1.76%
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