Whale Alert: 30000 ETH moved for selling

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Ethereum Market Crash

Ethereum has been on a downfall since the cryptocurrency market crash with ETH price falling down from around $200 to $100. A whooping downfall has led to panic selling across the market.

30,000 ETH have just been moved to WrappedEther from an unknown wallet probably some Initial Coin Offering wanting to sell their Ethereum holding after being a HODLER for a long time. The transaction was made with 60 GWEI and a transactional cost of $0.18. Here are the transaction details:

https://etherscan.io/tx/0x3d8c08de1ccc6688e9a1430b788efaf61654e64084fe5bb592436e5b32823c36

 

Ethereum likely to fall up to $60

 

ETHUSD 24 hour chart
ETHUSD 24 hour chart

 

The major support of $120 was broken recently with price sliding down to less than $110. Now the only support left for ETH is at $100 and after that, the major support lies at $60. Analysts predict that ETH will start to correct only after reaching to this major support level. Also, a lot of major ICO sell-off is predicted below the $100 range as most Initial Coin Offerings have been accepting Ethereum for their sale of tokens and now its high time for them to start selling off before the situation gets even worse.

What do you feel about the current market situation and the future of Ethereum? Tell us in the comments section below.

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