ETH Whales Begin to Offload Their Holdings; Time to Short ETH?

Published 27/08/2023, 09:24
ETH Whales Begin to Offload Their Holdings; Time to Short ETH?
ETH/USD
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ETH/USD
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  • Ali revealed in a tweet yesterday that there is a strong correlation between the number of ETH whales and ETH’s price.
  • In a second post, the analyst shared that he will be shorting ETH as whales begin to offload their holdings.
  • At press time, ETH was changing hands at $1,651.01 following a 24-hour loss of 0.02%.

In a tweet yesterday, the cryptocurrency trader and analyst, Ali, noted the strong correlation between the number of whales holding 10,000+ Ethereum (ETH) and the altcoin leader’s price trajectory. In the post, he questioned whether it is the right time to buy or sell ETH given the fact that whales are currently offloading their holdings in the cryptocurrency.

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