Ethereum’s $660 Million Whale Push Meets a Wall of Doubt — What’s Next For The Price
Despite $660 million in recent accumulation by Ethereum whales, short-term holders selling into rallies are creating doubt and keeping ETH's price range-bound.Summary
Ethereum's price is currently quiet near $3,875, but on-chain data reveals that whales accumulated approximately $660 million worth of ETH (170,000 ETH) over 48 hours. This accumulation is being countered by short-term holders (those holding for less than a month) who are selling into any price increases, creating a "wall of doubt" that prevents a significant rebound. Technically, Ethereum's structure remains somewhat bullish, evidenced by a bullish divergence on the daily RSI and its position within an ascending triangle pattern. For a confirmed upward move, ETH needs to break key resistance levels at $3,989 and ideally close above $4,137, which could target $4,495 or $4,950. Failure to hold support at $3,806 risks a drop toward $3,511 or $3,355.
(Source：BeInCrypto)