Ethereum – 3 signs suggest ETH prices could dive to $3.2K

Key Points

1. Ethereum fell below the $3,550 support level, signaling a potential drop to $3.2K or lower.

2. A whale deposited 26,182 ETH into exchanges like Binance and Kraken, indicating possible sell pressure.

3. BitMEX co-founder Arthur Hayes sold 2,373 ETH and 7.76 million ENA, adding to bearish sentiment.

4. Open Interest (OI) dropped 5.47% in 24 hours, while the Funding Rate remained positive but declining.

5. August began with 200,573 ETH flowing into exchanges, though one day's activity may not dictate the trend.