Ethereum Whales Bail Out—Is $1,840 the Crypto Cliffhanger You Can’t Miss? 🐋💸

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  • ETH’s Long/Short Ratio fluttered tremblingly at 0.95, whispering sweet bearish nothings to the huddled masses of traders.
  • Yet, should ethereal Ethereum dare to kiss the $1,840 candle goodnight, the bearish chant might just be silenced by a euphoric rally.

Ethereum [ETH], that glorious siren of the blockchain seas and the planet’s second-largest digital diva by market cap, seems to be losing the affections of its most voracious admirers—the whales. 🐋

Having flirted briefly with a breakout from a glumly descending trendline—imagine a slinky finally climbing out of a boring slump—ETH teased a 16% price leap, catching whales’ thirsty eyes. Yet, alas, the gala ended early, transforming into a tepid séance of consolidation where price barely stirred for four long days. The whales, apparently granted with the delicate sensibilities of prima donnas, receded into the briny deep.

Are whales abandoning Ethereum?

According to the seers at IntoTheBlock, massive transactions ranging between $1 million and $10 million have plummeted by a staggering 62.42% this past week—whales no longer sending lavish invitations.

This retreat suggests that the titans of finance, those shadowy institutions with pockets deeper than the Mariana Trench, are giving ETH the cold shoulder.

But the exodus isn’t exclusive to the biggest splurges. Even the middling spends between $100,000 and $1 million, and modest ones from $10,000 to $100,000, have deflated by 43.14% and 27.94% respectively. The digital wallet dance floor is suspiciously vacant.

The count of large, lobster-sized transactions has shrunk by 51.68%, further cementing the whales’ collective disinterest — or perhaps they’re off at a meme coin party. 🦞

Weaving these metrics with ETH’s sluggish price pirouettes, one gathers an air of bearish discontent. Something about this digital drama whispers “price decline” as if from a gloomy oracle.

Traders’ gloomy soiree

At the moment of our transmission, ETH’s Long/Short Ratio delicately teetered at 0.95, the very balance of bearish poise. A cool 51.17% of top ETH traders have pitched their longings shortward, leaving a mere 48.83% clinging to hope longer than a soap opera star clings to sanity.

Even the trader cabal appears to have switched their favorite cocktail from Optimism on the rocks to a chilled, dry BitterBear. Sentiment is veering towards gloom, much like your Monday morning commute.

ETH waltzes near $1,805 presently, sulking with a modest 0.55% loss in the past 24 hours—a hint of a downturn, like a polite sneeze in an otherwise quiet room.

Trading volume is off by 40%, suggesting attendance at this fiesta has dropped faster than free samples at a vegan snack convention.

Ethereum’s tantalizing price dance and the make-or-break masquerade

Our comrades at AMBCrypto attest that ETH finds itself ensnared within the narrow confines of an ascending triangle—a geometric, four-hour timeframe drama where the price pirouettes on the edge of destiny.

Should this delicate formation unravel, ETH might dive as much as 7%, retesting the horizontal embrace of support near the $1,690 mansion, akin to a reluctant guest revisiting a forgotten party.

Yet, hope floats like a helium balloon at a child’s birthday—if ETH shatters the neckline of that ascending triangle and pens its name above $1,840 on the four-hour stage, it could summon an exuberant rally worthy of a symphony.

Through tribulations tough and momentous, ETH clings nobly above the 200 Exponential Moving Average (EMA) on its four-hour chart—a last beacon of bullish defiance or perhaps just stubbornness.

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2025-04-27 19:10