Ethereum has experienced a 12% decline in just one week, reflecting a broader downturn among altcoins, leaving investors anxious about future price movements.
Over half of Ethereum’s post-election gains have been erased. Whale activity has contributed to selling pressure, increasing concerns about further declines, particularly towards the critical support level of 3,169 USD.
Currently, the market’s direction remains uncertain. If ETH continues to fall, it may significantly impact over 5 million addresses holding ETH bought at 3,169 USD, prompting hard decisions on HODLing versus cashing out.