Ethereum Whale Drops $14M to Avoid $340M Liquidation, But Trouble Isn’t Over

In a wild twist that shook the crypto world, a major Ethereum whale scrambled to save their massive position from an ETH liquidation crisis. With ETH prices sliding fast, the investor was staring down a $340 million liquidation on MakerDAO. To avoid disaster, they quickly deposited 10,000 ETH, worth over $14 million, and 3.54 million DAI to buy themselves some breathing room. The move pushed the liquidation price farther down to $1,119.30, helping protect their 220,000 ETH stash.

Image 1 – Source: X @Lookonchain, April 7, 2025

Over $1.3 Billion Liquidated in 24H as ETH Liquidation Wipeout Rocks the Market

The Ethereum whale wasn’t the only one feeling the heat. In just 24 hours, more than $1.36 billion worth of positions were wiped out across the crypto market, with ETH accounting for a hefty $400 million of that. Another unfortunate investor on the DeFi platform Sky saw their 67,000 ETH, worth over $106 million, vanish after a brutal 14% drop in ETH price. Most of the pain came from long positions, with over $1.2 billion flushed out. It’s a harsh reminder of how quickly things can go south when leverage meets volatility.

Image 2 – Published on Coinglass, April 7, 2025

Tariffs Spark Chaos, But a Crypto Comeback Could Be Brewing

The trigger? A surprise tariff announcement from Trump on April 2 rocked global markets and led to the S&P 500’s biggest two-day loss in history. But some experts think this could actually be a turning point. With the uncertainty now out in the open, crypto might start looking attractive again. Analyst Michaël van de Poppe says we might see a “rotation into digital assets” as investors look to buy the dip. Nansen even puts the odds of a market bottom by June at 70%. All of this sets the stage for a deeper dive into what the ETH charts are telling us next.

ETH Price Action Analysis

Ethereum’s 5-minute chart paints a picture of heavy bearish pressure followed by signs of attempted recovery. After a sharp drop from the $1,750 zone, the ETH price found temporary footing around $1,550 but couldn’t sustain it, slipping further to test support near $1,420. This zone has since held strong, with multiple rebounds visible from this level. The RSI consistently flagged oversold conditions throughout the decline, highlighting aggressive selling and potential exhaustion. Notably, several Golden Crosses on the MACD followed by weak Death Crosses suggest that momentum is trying to shift, but buying confidence remains fragile.

Chart 1, Analyzed by Alokkp0608, published on April 7th, 2025.

The ETH price action is now stabilizing above $1,450, trading within a narrow range. Resistance is stacked near $1,730, where previous upward attempts were strongly rejected. Support remains firm in the $1,420–$1,440 zone. RSI has pulled back to mid-range levels, while MACD lines hover close to the signal line with no strong divergence, reflecting a market waiting for fresh direction. The series of recent Golden Crosses could be early signs of an upside attempt, but confirmation above $1,500 is still needed. With indicators balancing out and volatility calming, traders are closely watching for a breakout setup.

Conclusion: Ethereum Whale Moves, Market Shakes, But ETH Holds Steady—For Now

The Ethereum market just weathered a storm, with over $1.3 billion in crypto positions liquidated and ETH alone taking a $400 million hit. A major whale’s emergency 10,000 ETH deposit helped avoid a massive ETH liquidation on MakerDAO, while broader panic was sparked by a surprise tariff shock. Despite the chaos, Ethereum has managed to find a temporary footing around the $1,450 mark. With RSI and MACD indicators showing signs of balance and buyers cautiously stepping in, ETH could be poised for a rebound if it can clear key resistance levels. All eyes now turn to whether $1,500 holds the key to Ethereum’s next breakout move.