- Whale trades show indecision as 14,994 ETH bought, then 4,491 sold within hours, hinting at weak long-term conviction.
- 75% of ETH holders are long-term, but 55% held by whales makes Ethereum price sensitive to large wallet movements.
- Ethereum shows bullish signs with RSI at 56.49, MACD crossover, and rising lows, but faces key resistance at $1,880–$1,900.
Whale movements around Ethereum have shown unstable behavior, raising fresh concerns about investor sentiment. According to Lookonchain, one whale recently purchased 14,994 ETH worth $27 million at an average price of $1,801.
Just three hours later, the same whale sold 4,491 ETH worth $8.07 million at $1,797, barely below the buying price. This inconsistent trading pattern points to indecision rather than long term conviction.
Meanwhile, Galaxy Digital’s OTC wallets transferred 23,900 ETH, valued at $42.52 million, to Coinbase over the past eight hours, further contributing to the shifting tone around ETH positioning. These substantial deposits could suggest intentions to offload holdings, yet the market has not seen aggressive price swings so far.
Whale Activity Adds to Uncertainty
While large trades increase uncertainty, Ethereum’s broader on-chain data is relatively stable. According to IntoTheBlock, 41% of ETH holders are currently in profit, while 54% remain out of profit. Another 5% are at break even. This balance shows market hesitation, as fewer than half of holders are seeing gains.
Additionally, 55% of Ethereum is concentrated in the hands of large holders, which increases sensitivity to whale behavior. Yet, long term holding data suggests resilience. Notably, 75% of ETH holders have retained their assets for over a year, while only 3% are recent investors.
Over the past seven days, Ethereum saw net outflows totaling $399.92 million. This may suggest quiet accumulation, even as large holders move substantial amounts to exchanges like Coinbase.
Market Strength and Resistance Levels
Ethereum is attempting recovery from a mid April downtrend. The price has formed a base and is showing higher lows in recent sessions. This formation indicates a potential shift toward neutral to bullish behavior.
At press time, Ethereum was trading at $1,814.60, a 1.56% increase in the past 24 hours. Volume is at 114.91K ETH, showing moderate but steady activity. Despite large whale transfers, daily volume has not shown major spikes.
Momentum indicators support this trend. RSI now is at 56.49, up from below 40 recently, showing improvement. MACD also shows a positive crossover, with the histogram rising and the MACD line above the signal line.
Key Levels to Watch
Ethereum faces immediate resistance between $1,880 and $1,900, close to its recent swing high. A move above this zone could challenge the $2,000 psychological barrier. However, failing to break this level may bring price back toward support near $1,750.
Support is firm at $1,750 and $1,700, both tested during the recent downturn. These levels could cushion pullbacks. Monitoring whale activity, exchange flows, and volume behavior is essential to gauge the next price movements.
