|

230,000 ETH Sold by Whales in a Week – How Low Can Ethereum Go?

Ethereum (ETH) price chart

Ethereum (ETH) has dropped almost 15% over the previous week, now buying and selling simply above $3,000. The decline follows large-scale promoting by main holders.

With each on-chain and technical information displaying stress throughout the market, merchants are watching carefully to see if the asset can maintain key ranges.

Whales Sell 230,000 ETH as Price Falls

Data from analyst Ali Martinez exhibits that wallets holding between 1,000 and 10,000 ETH bought round 230,000 tokens over the previous week. Total holdings in this vary fell from about 14.4 million ETH to 14.17 million. This exercise traces up with the drop in value from round $3,600 to simply over $3,200 between November 9 and November 17.

Large pockets exercise usually impacts the worth. When whales promote throughout a downtrend, it could possibly add strain and cut back short-term confidence. If this habits continues, ETH may retest decrease ranges. A pause in promoting, nevertheless, may assist a short-term restoration.

Lack of New Investors May Be Slowing Momentum

According to a CryptoQuant update from analyst PelinayPA, new depositor exercise on the Ethereum community stays flat. This metric tracks what number of new customers are coming into the community and is used to gauge retail demand. Even throughout ETH’s latest run to the $4,000–$5,000 vary, the variety of new customers didn’t enhance.

“The market should still be in an early rally part, with main retail participation but to reach,” the analyst wrote.

In related previous cycles, ETH moved larger after a correction as soon as retail consumers began coming into. Until then, the transfer is seen as pushed by present liquidity. Without stronger exterior demand, sharp pullbacks are extra possible.

Traders Focus on Key Support Zones

Crypto Patel shared that ETH has hit the $3,000 zone, calling it the primary space of curiosity for consumers. He pointed to $2,400 as the following main degree if the worth continues to drop. Fibonacci-based areas round $2,621 and $2,255 have been additionally talked about as longer-term zones to look at.

Chart information from Lucky shows ETH in a falling channel. The asset is close to the decrease edge, across the $2,900 to $3,100 vary, which matches a earlier hole on the chart. If ETH holds this space and breaks the higher trendline, the following transfer may push towards $4,000. If not, a drop to earlier assist might observe.

Ethereum (ETH) price chart
Source: Lucky/X

Liquidity and Sentiment Remain Mixed

Some analysts believe ETH remains to be buying and selling in a fragile vary. According to dealer Ted, there may be a cluster of liquidity close to the $2,900–$3,000 degree.

“With BTC displaying weak spot, I believe Ethereum will sweep that degree,” he mentioned.

He additionally famous potential resistance close to $3,600 if ETH sees a bounce.

ETH is about 39% lower than its peak of round $4,950 established in August 2025. Now, the market gamers are maintaining a tally of its efficiency at this time assist degree. Whale exercise shift or new person inflows may have an effect on the long run state of affairs.

The publish 230,000 ETH Sold by Whales in a Week – How Low Can Ethereum Go? appeared first on CryptoPotato.

Similar Posts