Ethereum faces $40m VC dump as ETH price slides below key support
Ethereum’s pressure continues to deepen as three large investment companies make more than $ 40 million ETH for exchanges within 24 hours.
According to data shared by chain analyst, the data of data on April 16, in the last 24 hours, Polychain’s capital deposited 5,700 Ethereum (Ethn), worth around $ 9.2 million, centralized. Galaxy Digital sent an additional 12,500 ETH, around $ 20.3 million, while B2C2 added 6,540 ETH worth around $ 10.7 million.
The timing is critical. ETH broke below the $ 1,600 bar, a major support area that has now overturned in the resistance. Most moving averages, from 10 days to 200 days, flash the sales signals. The relative resistance index is 38.9, indicating a weak momentum but not yet in the territory occurred. The convergence / average mobile average points to a possible short -term rebound, but overall, the market remains cautious.
If ETH fails to recover the area from $ 1,600 to $ 1,620 soon, further, inconvenience Around $ 1,500, or even $ 1,450, is possible. However, a rebound in the current levels could trigger a quick rescue rally at $ 1,700, where heavier resistance awaits.
The data on the chain only deepens the lowering feeling. According to Defillama dataThe total value of locked Ethereum increased from around $ 70 billion at the start of the year to $ 46 billion. Monthly income also increased from $ 109 million in January to only $ 7.2 million in March.
The network has lost ground against rivals like Solana (GROUND), Base and tron (Trx), which now attract more users and income. Even decentralized applications like Uniswap (UNITED) Work better on competing chains.
The outings of American FNB Spot add to the concern. According to Sosovalue, ETH ETF experienced $ 14 million in outings on April 15. data.
Ethn lost 45% in the first quarter of 2025, its third quarter since 2016. With the main players in sales and fundamental principles, the path of Ethereum recovery seems higher and higher.
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