Over $1 billion worth of Ethereum hit exchanges in March 2024, ahead of the Dencun upgrade. Whales have consistently taken profits on their Ether holdings, to the tune of $7.36 billion in March. ETH price could correct to $3,622 as technical indicators turn bearish and signal decline in Ethereum is likely. Ethereum price is at a risk of decline, according to technical indicators and on-chain metrics.
Whale transactions valued at $100,000 and higher, Network Realized Profit/Loss. Source: Santiment On-chain metrics signal there is likely an increase in selling pressure on ETH and Ethereum price could crumble if holders continue realizing gains in the coming weeks and months. Ethereum price could nosedive to $3,600: Technical analysis Ethereum price hit its 2024 peak of $4,093.92, on March 13, following the successful rollout of the Dencun upgrade.
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