Whales Preparing to Sell Ethereum

The chart shows a significant influx around December 24–26 ( approximately $140K+ #ETH worth ). Immediately after, a weaker continuation bar appears.

There has been a strong $ETH transfer to the exchange, followed by a continued but weaker inflow. Such one-time large inflows are generally interpreted as preparations for spot selling.

For the Netflow on the chart, EMA(7) and EMA(14) have turned upward, while SMA(30) remains flat. This situation indicates an increased short-term selling intent. Investors are waiting to sell at resistance levels when the price rises. Since every upward movement results in a sale, expecting a major bullish trend is not appropriate.

In previous periods, high positive netflows led to price retracements. In the recent large inflow, on December 24 (, the price did not drop sharply but rather moved sideways. This indicates a divergence between netflow and price. Not all ETH entering the exchange is being sold aggressively. On the contrary, as mentioned above, the price is being gradually suppressed at resistance levels through partial sales.

The current positive Netflow suggests that the $3080 resistance zone could act as a barrier. If positive netflow continues, the price could drop to the $2500 support level. As long as negative Netflow does not increase, the upward movement will remain only as an intermediate trend. In the #Ethereum market, during the bear season and until a bottom is found, the main trend will continue downward.

⚠️ #advertisement or investment advice is not provided. This analysis reflects my personal opinion. It is not definitive.