$ETH WHALES BOUGHT 87K ETH BUT MOMENTUM REMAINS WEAK AT $1,700 ⚠️
Four large holders accumulated 87,083 ETH worth $153.8 million during the dip near $1,700. Exchange supply ratio dropped to 0.129, the lowest since 2016, signaling reduced selling pressure from centralized platforms.
Yet the Stochastic Momentum Index just printed a bearish crossover at 37, suggesting buyer demand hasn't been strong enough to reverse the downtrend. Key levels to watch: a breakdown below $1,681 would expose further downside, while reclaiming $1,847 is needed for any bullish momentum shift.
Is this accumulation enough to turn the tide or will weak technicals drag price lower?
Not financial advice. Always manage your risk.
#ETH #Accumulation #SupportLevels #CryptoAnalysis 💎