Whales Dumping Ethereum Like It’s a Bad Tinder Date 🐳💔

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So, Galaxy Digital, Mike Novogratz’s crypto playground, has been offloading Ethereum like it’s last season’s fanny packs. 👜 Over the past few days, they’ve been dumping ETH faster than I dump my New Year’s resolutions. 🎉

According to LookOnChain (the blockchain’s version of TMZ), Galaxy Digital just sent another 12,500 ETH (worth about $20.36 million) to Binance on April 15. That’s 25,000 ETH (over $40 million) in just three days. 🚀💸

Galaxy Digital deposited another 12,500 $ETH($20.36M) to #Binance 5 hours ago.

That’s 25,000 $ETH($40M+) moved to #Binance in just 3 days.

— Lookonchain (@lookonchain) April 15, 2025

And guess what? Ethereum’s price is struggling harder than I do at a CrossFit class. 🏋️‍♀️ ETH is down nearly 50% from last year, and whales are selling like it’s a Black Friday sale. 🐳📉

On Monday, one whale sent 8,922 ETH ($14.82 million) to Kraken, while another sold 8,001 ETH for $13.06 million at $1,632 per ETH. 🐋💸

Whales are selling $ETH!

0xc19D deposited 8,922 $ETH($14.82M) to #Kraken in 1 hour.

0x4e7a sold 8,001 $ETH($13.06M) at $1,632 in the past hour.

— Lookonchain (@lookonchain) April 14, 2025

Meanwhile, the Ethereum Network is under more strain than my yoga pants after Thanksgiving dinner. 🦃 Stablecoin supplies on Ethereum have dropped by over $1 billion in the past week, while Tron’s stablecoin volumes have increased by $1.52 billion. 🎢

In the past 7 days, stablecoins(USDT&USDC) on #Tron increased by $1.52B, and stablecoins(USDT&USDC) on #Ethereum decreased by $$1.02B.

— Lookonchain (@lookonchain) April 14, 2025

Oh, and Ethereum’s total value locked (TVL) in DeFi has dropped by $20 billion since the start of 2025, now sitting at $46.5 billion. 📉💔

Opportunity amid the panic?

But hey, every cloud has a silver lining, right? 🌥️ Some analysts think this is a great buying opportunity. On-chain analyst Ali Martinez pointed out that Ethereum might be approaching a crucial support zone. 🛡️

The most critical support for #Ethereum sits at $1,546.55, where 822,440 $ETH were previously accumulated. A level worth watching closely!

— Ali (@ali_charts) April 15, 2025

Martinez says the $1,546 range has historically been a strong foundation, with over 820,000 ETH previously accumulated there. He also mentioned a potential rebound, citing a buy signal from the TD Sequential indicator on Ethereum’s weekly chart. 📈🛒

Ethereum (eth) price outlook

As of now, Ethereum is trading around $1,642, with a market cap of over $198 billion. The RSI is sitting around 42 with an upward gradient, suggesting there’s room for upward motion—if buying volume increases. 📊🚀

But if the RSI falls further, it could mean more price weakness. 📉😬

ETH Daily chart | Source: Trading View

Ethereum is approaching the middle Bollinger Band (20-day SMA). If it holds this level around $1,655, traders might see a bullish momentum, potentially reaching the upper band (around $2,000). 🐂📈

On the flip side, the lower band (around $1,429) serves as a dynamic support for ETH. 🐻📉

ETH Daily chart | Source: Trading View

Meanwhile, the MACD line remains below the signal line despite a mildly positive histogram, indicating slow upward momentum. If the price drops further, it could head to $1,400, especially if MACD crosses bearishly. 🐻📉

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2025-04-15 17:16