- The long/short ratio of the ETH is 0.95, indicating the weakness between the merchants.
- Ether Lee Rium can meet and change this weakness by closing more than $ 1,840 candles every day.
Ether Lee (ETH), the second largest cryptocurrency in the world by market cap, seems to be losing whales.
In the order of descending order, ETH experienced some ups and downs and received attention from whales at first, but the interest seems to be faint.
According to the data, the price of ETH has increased by more than 16%after the escape, but it has disappeared and changed to integration. In the last four days, the price has rarely moved, and whales can retreat.
Are whales throwing away Ether Lee?
According to Intotheblock’s warm chain data, whale trading between $ 1 million and $ 10 million last week has decreased by 62.42%.
This huge decline indicates that major players and institutions are withdrawn.
Source: INTOTHEBLOCK
However, not only the $ 1 million to $ 10 million in $ 10 million in the last seven days, but also reduced the transactions between $ 1 million to $ 10,000 to $ 100,000, respectively, down 43.14% and 27.94%, respectively, in the last seven days, respectively.
In addition, chain metrics show that the number of large -scale transactions has decreased by 51.68%, resulting in a low interest in whales.
When combining these metrics with ETH’s price momentum, you can see the weakness of assets and know the potential price drop.
Merchant’s point of view
The long/short ratio of ETH was 0.95 for the prestime time. According to CoingLass, 51.17%of the highest ETH traders actually have a short arrangement and 48.83%maintained.
Source: COINGLASS
Looking at these metrics, along with whales, traders seem to have begun to move their emotions to the side while looking forward to the price drop.
In the press time, ETH has been traded near $ 1,805, down 0.55% over the last 24 hours.
During the same period, trading volume decreases by 40%, indicating that the participation of traders and investors is lower than the previous day.
Ether Leeum’s price behavior and major levels
According to the technical analysis of AMBCRYPTO, ETH appears to be in a situation where cracks occur as they move to the narrow region of the triangular triangle pattern for 4 hours.
Source: TradingView
Historically, the failure of this pattern can lead to a sharp decline, and the ETH can potentially reduce more than 7%, resuming the level of horizontal support near $ 1,690.
But there is also a possibility of breaking upside down. This occurs when ETH is broken over the rising triangle pattern on the neckline and close 4 hours of candles over $ 1,840 mark. This movement can cause a significant rally.
Despite its current tasks, ETH indicates that assets are still rising, exceeding the 200 index moving average (EMA) in a four -hour chart.