Current Price: Ethereum trading at $2,921, down by 14.87% this week.
Support Breakdown: ETH price breaks crucial supports and the $3,000 mark.
Market Impact: Release of Mt. Gox Bitcoin payout increases supply pressure.
Bearish Patterns: Evening star formation and range breakdown retest at $3,460.
Trendline Breakout: Breaks long-term support trendline, plunges to day’s low at $2,809.
MACD Signal: Bearish phase in MACD and signal lines under the zero line.
Whale Activity: Significant ETH dump and strategic repurchase at lower prices.
Whale Liquidation Risk: Major ETH holders face liquidation pressures on Aave and Compound.
Triple Black Crow Pattern: Daily chart indicates potential for further decline.
Potential Target: Extended crash could hit $2,616, an additional 10% drop.