Ethereum Whales Are Buying! Is a Rally Coming?
ETH Price at $1,905—Breakout or more pain ahead?
Ethereum (ETH) witnessed significant price fluctuations this week, initially dropping 7.69% on Monday before recovering 3.13% on Tuesday, closing above its key weekly support at $1,905. As of Wednesday, ETH hovers around this level, highlighting market indecision.
Read Ethereum Price Prediction for more detailed insights
Support and Resistance Levels If ETH fails to hold above $1,905, it could extend its decline to the next key support at $1,700. However, a recovery could push ETH toward its next resistance at $2,359. The daily Relative Strength Index (RSI) sits at 32, nearing oversold territory, signaling strong bearish momentum.
Whale and Smart Trader Activity Institutional and experienced traders have shown interest in ETH, with the past 24-hour data revealing:
Whales: Net buy volume of $1.02 million, total buy volume at $6.94 million.
Smart DEX Traders (SDT): Net buy volume of $845,870, total buy volume at $2.80 million.
Smart Money (SM): Net sell volume of $689,917, signaling profit-taking.
Despite SM selling, overall buy-side dominance has limited bearish impact.
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Netflow and Market Sentiment Ethereum’s netflows show mixed signals:
24-hour netflow: +3.75k ETH, indicating short-term accumulation.
7-day netflow: +239.52k ETH, reflecting increased confidence.
30-day netflow: -99.69k ETH, suggesting ongoing profit-taking.
Sustained whale and SDT accumulation have historically driven ETH price increases. If buying continues, ETH could push toward resistance. However, rising SM selling or renewed outflows may indicate further downside risk.
Ethereum’s price movement hinges on the balance between whale accumulation, smart trader activity, and overall liquidity trends. Continued net buying could signal a bullish breakout, while increased selling may lead to another correction.