Ethereum Posts 4% Gain, But Lack Of “Whale Accumulation” Could Spell Trouble

After facing a significant amount of selling pressure over the past several days, Ethereum (ETH) has been able to post a decent bounce from its recent lows and appears to have established a notable support level around the $160 region.
Despite being able to climb from its recent lows, it is important to note that Ethereum is still down significantly from its recent highs, and one piece of on-chain data may spell significant trouble for its long-term price action.
Ethereum Posts 4% Gains as $160