Ethereum Price Faces Downside Pressure as Whales Sell Off

The price of Ethereum is currently hovering around the crucial $4,590 mark, encountering resistance from continued sell-offs by major holders. Despite showing resilience within its upward trend, Ethereum faces a potential downturn as over $455 million worth of tokens were sold in recent transactions. Market data reveals that prominent crypto exchange users, including Trend Research, have conducted significant sales on October 5th, totaling nearly $383 million worth of ETH.