Look at Ethereum's 4-hour trend—it’s jumping up and down like a roller coaster on the candlestick chart. The resistance at 3500 is pressing hard from above, while the support at 2760 is holding steady at the bottom. The MACD golden cross is just emerging, signaling a possible surge in momentum. But here’s the real bombshell—a whale just dumped over 30,000 ETH at the high of $3,299, cashing out more than $70 million! With this move, will the price charge up to 3500, or tumble back down to 2945? Whether retail investors can avoid this pitfall tonight all depends on what happens next.

Let’s talk about the latest news. On-chain monitoring caught a “veteran” whale in action: from October 28th until now, this player has gradually transferred 30,603 ETH, worth $70.55 million, to a major exchange and Galaxy Digital, with an average price of $3,299. This address isn’t new—it’s been accumulating since 2017 and has transaction history with established institutions like Fengbushi Capital and FBG Capital. Now, selling at $3,299, which is $86 higher than the current price of $3,213, is this whale cashing out early because they think the rally’s over, or just rebalancing their portfolio? More importantly, will this high-volume sell-off put a damper on the current uptrend?

Now, let’s look at the technicals. The MACD golden cross looks promising, but resistance and overbought signals are real. The current price is stuck at 3,213.92 USDT, with a daily increase of 0.17% and volatility of 1.49%. The chart clearly marks the key resistance levels at 3,500 (major resistance), 3,270 (critical resistance), and 3,170 (key support), with rebound support at 2,945 and a strong base at 2,760 below.