Ethereum breakout appears vulnerable after three-week bearish divergence

Beincrypto reports Ethereum's breakout from a bullish triangle appears vulnerable after a nearly three‑week bearish divergence signalled fading momentum and large wallets sold roughly $760 million worth of ETH.

While ETH prices made higher highs, the Chaikin Money Flow posted higher lows, suggesting gains occurred alongside rising capital outflows rather than sustained inflows. On‑chain data show wallets holding between 100,000 and 1 million ETH sold more than 230,000 ETH over the past week, which the report says aligns with the declining CMF. The triangle breakout had projected a 29.5% upside to $4,240, but the weakening momentum and whale selling threaten the move's sustainability.

Ethereum traded near $3,309 at the time of writing, just above a $3,287 support level; the analysis says a loss of that support could push price toward $3,131 and make the breakout a fakeout, with a deeper correction below $3,000 possible. Conversely, a successful bounce from $3,287 and eased whale selling could allow a push toward $3,441 and then $3,802. The piece notes the price analysis is informational only and not financial advice.

Key Topics

Crypto, Ethereum, Chaikin Money Flow, Bullish Triangle, Whale Wallets, On-chain Data