Ethereum (ETH) confronts significant bearish pressure as large-scale holders liquidate positions and technical resistance mounts, potentially triggering a 25% price decline. Market analysts identify the $1,600 support level as crucial for preventing further downside.
Recent blockchain activity revealed two prominent wallets unstaking and withdrawing nearly 96,000 ETH (worth approximately $237 million) before transferring assets to Binance. These movements signal high-net-worth investors preparing to sell, intensifying market uncertainty.
On-chain data indicates a redistribution trend within Ethereum holdings: The cohort of wallets containing 10,000-100,000 ETH has decreased, while mid-sized wallets (1,000-10,000 ETH) demonstrate steady growth. Concurrently, exchanges like Binance report consistent ETH inflows, suggesting increased selling pressure.
Despite near-term bearish indicators, several analysts project long-term optimism. They contend that a breakout above Ethereum’s weekly Relative Strength Index (RSI) resistance could catalyze a sustained upward reversal.
The market presents conflicting signals—ongoing whale sell-offs contrast with accumulation by mid-tier holders, while technical analysis reveals both critical support thresholds and resistance barriers. This complex environment underscores Ethereum’s heightened volatility risk.