ETH Price Apr 8: What Levels Matter After Monday’s Market Crash

• Ethereum plunges over 14 percent Monday, breaking $1,800 support to trade near $1,541
• $106 million whale liquidation on Maker reported by Lookonchain added sell pressure
• ETH tests critical long-term support (log regression channel ~$1.35k-$1.45k)

Ethereum (ETH) plunged over 14% in 24 hours Monday, breaking below critical support zones to trade near $1,541 as a broader crypto market sell-off intensified, reportedly taking Bitcoin below $76,000.

What Role Did the $106M Whale Liquidation Play?

Adding pressure to the decline, on-chain data platform Lookonchain reported a major whale liquidation. An address holding 67,570 ETH (worth ~$106 million at the time) on the Maker lending protocol was liquidated, likely amplifying the downward momentum.

As $ETH plummeted, the 67,570 $ETH($106M) held by this whale on #Maker was liquidated!https://t.co/kXSkKh1H0P pic.twitter.com/IDjzbQ8P3z

— Lookonchain (@lookonchain) April 7, 2025

Does Exploding Volume Signal Panic or Buying?

Ethereum’s trading volume exploded over 345% during the price drop, with derivatives volume surging similarly (+329%), according to Coinglass. Unlike typical high-volume rallies, this su…

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