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Is Ethereum Drop Provoked by a Major Investor?

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Ethereum

Was the fall of Ethereum provoked? Where it leads?

Ethereum continues to lose ground in the market, the altcoin price on Tuesday, November 3, fell to $ 374. Over the past 24 hours, the capitalization of ETH has decreased by almost 6% to $ 42.5 billion.

Ethereum

Researchers from the CoinMetrics team believe that one of the players who triggered the fall in the value of the altcoin could be a “whale” that sold 4,000 ETH. The transaction was carried out on the Binance exchange on the night of November 3.

Ethereum

Analysts admit that other large ether holders may follow the example of this investor. A massive sell-off will lead to a deeper correction. The altcoin is increasingly moving away from the psychological mark of $ 400.

The first warning signals appeared at the end of October. Ethereum miners started selling ETH, from which point the negative trend became dominant. Ether did not have enough support to gain a foothold above $ 400.

The Santiment team believes that bearish sentiment will intensify in the near future. However, a drop below $ 365 is unlikely. As we approach this mark, the return of support for the altcoin is expected.

Ethereum

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