The post Ethereum Price at Risk? Bearish Chart Patterns Warning appeared first on Coinpedia Fintech News
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, appears bearish and is poised for a price decline. The reasons for this include how ETH is lagging behind top assets like Bitcoin (BTC) and Solana (SOL), its current price action formation, the latest sell-offs by whales, and more.
Ethereum (ETH) Sluggish Performance
With steady and dull performance compared to other assets, whales and investors have dumped significant amounts of ETH in recent days. Recently, CoinPedia reported that a dormant whale, holding 398,889 ETH worth $1.34 billion, offloaded 73,356 ETH valued at $224 million.
This notable dump has created potential selling pressure on the asset and has resulted in a shift in user sentiment.
Ethereum Technical Analysis and Upcoming
According to expert technical analysis, ETH is currently exhibiting a bearish double-top price action pattern
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