*THEREUM TEETERING: Will Whales Save the $3,000 Support?"*

$ETH is currently caught in a Fear vs Greed battle near the $3,000 support level, with massive whale positions hanging in the balance. One whale, who opened a $537 million long position at $3,175, is now facing an unrealized loss of $20.5 million after a 4.7% drop. This has led to over $120 million in liquidations, with$ETH leading the market wipeout. ¹ ²

The price is approaching the Whales' Actual Price, a critical level that's only been reached four times in the past five years. Historically, this convergence has triggered large accumulation waves, making it a make-or-break moment for $ETH If whales defend this price level, we might see the start of the fifth major accumulation phase. However, if the price breaks below this cost basis, it could trigger a wave of liquidations and market capitalization. ³

Whale activity is a key indicator of market sentiment, and it seems like they're going all-in on despite record leverage levels posing a significant risk. The question is, will smart money withstand the pressure to defend their entry point, or will greed ignite the next crash? ⁴

Would you like to know more about Ethereum's current market trends or the impact of whale activity on its price?