The atherium value was stable as the market came up with a $ 1.4 billion hack by the Lazarus Group.
Ethereum (Eth) traded at $ 2,795 on Sunday, above a few points above $ 2,665 last Friday. It is about 32% below the highest level in December last year.
Coinglass data suggests that the Ethereum remaining on the bybit has started growing after crashed on Friday after hack. Last Friday, the remaining remaining 200,000 or $ 558 million increased to more than a low of 61,000.
There are two potential reasons for the Ethereum balance running on Bybit. First, there is a possibility that bybit is actively buying ETH from the market as it wants to promote confidence with its users.
Second, the ongoing growth is one indication that customers are transferred to the exchange because trust increases. This is because bybit has said that it will cover 100% of the stolen Etreum coins. Bybit has also launched $ 140 million to track the fund, a step that can return to one part of them.
These incidents are taking place after the North Korea’s Lazarus Group allegedly reaching the cold wallets of Bibit and stolen an $ 1.4 billion ETH tokens. In addition to its scale, this hack expressed concern about the safety of crypto assets stored in cold purse by exchanges.
The price of atherium may be a risk of a large dive
The daily chart suggests that the Ethereum may be at risk of a large dive in the near period. It has already formed a death cross pattern as 200-day and 50-day-diversified moving average has crossed each other. It is one of the most recession chart patterns in technical analysis.
The Ethereum Price has also created a recession flag chart pattern, which is a popular continuity signal. This pattern is made up of a vertical line and a consolidation. This consolidation also resembles a mounting wedge pattern.
Therefore, Eth tokens will probably have a recession breakdown, $ 2,155 with the next reference level, the lowest point this year, which is about 23% below the current level.
If the coin jumps above the 200-day WMA point, the outlook will be rapidly invalid.
