Ethereum breaks below $2,350 trendline as whales add shorts
- —A wallet linked to the Ethereum Foundation sold 2,785 ETH for $6.42 million via CoWSwap
- —ETH funding rates dropped 56% in 24 hours to 0.004
- —ETH exchange reserves fell to a weekly low
- —ETH trades near $2,317 after losing trendline support at $2,350
Why it matters: The trendline break and rising whale shorts increase downside risk for ETH unless the price reclaims $2,350.
Source: AMBCrypto