Dark Days Ahead For Ethereum! ETH Price At Risk Of Crashing Below $1K Soon! – Coinpedia – Fintech & Cryptocurreny News Media

The Merge was successfully completed on September 15, but Ethereum (ETH) continued to decline as traders anticipated that a dip under the $1,700 mark would result in the opening of several short positions. Considering the hysteria surrounding the Merge, whales began liquidating their ETH holdings last month. A further decline below $1430 will be catastrophic for the asset, which has currently reached an inflection point.

A Dangerous Stage For Ethereum

In the week following the Merge, Ethereum’s market capitalization dropped by approximately $40 billion, and another $25 billion in that week alone. Whales leveraged the most anticipated event in the cryptocurrency market to unload their Ethereum (ETH) holdings just before the price drop.

According to the Merge story, experts had forecasted that the Ethereum price would drop, which it did as “whales” dumped over $1.5 billion worth of ETH in only two days. In reality, the price has reached a pivot point, with support coming in at $1,430 due to heavy selling by “whales.”

Several crypto specialists have predicted that if the price of ETH drops below $1430, it might hit $1,000, a claim supported by analyst ali martinez