Ethereum Whale deposited $738 million worth of ETH on Coinbase !

After the first price target was reached today:

In my opinion, Ethereum currently exhibits concerning technical patterns and fundamental factors that could potentially lead to a significant decline in its price!
The presence of a bearish pennant and a head and shoulders chart pattern suggests a bearish trend reversal may be in play.

Adding to the bearish outlook is the news of a prominent Ethereum whale, who owns a substantial amount of ETH worth approximately $738 million, depositing their tokens on Coinbase, possibly with the intention to sell.

Such a massive influx of supply into the market has the potential to trigger a significant selloff, leading to downward pressure on Ethereum's price.

Considering these factors, I have set a price target of $1140, which represents a substantial decline from the current levels.

Looking forward to read your opinion about it!