Ethereum: Whale selling vs new accumulation collide… market at a ‘turning point’ for direction

As Ethereum (ETH) pulls back from its recent peak, analysis suggests the market has entered a turning point as whale investors’ selling clashes with accumulation by new investors.

According to CryptoPotato, a cryptocurrency-focused media outlet, Ethereum has fallen about 9% from its recent high, entering a corrective phase. Prices are currently fluctuating in the $2,000–$2,100 range, and investors are divided over the next directional move.

On-chain data show a clear tug-of-war in supply and demand. According to crypto analytics firm Wise Crypto, whale investors have been moving Ethereum to exchanges over the past week, a pattern consistent with profit-taking. This is interpreted as overhead selling pressure that could cap gains.

At the same time, buying on dips—centered on new wallets—has also been observed, providing support on the downside. Ethereum withdrawn from exchanges by new wallets was tallied at roughly $1.8 billion. Wise Crypto said this is a “typical distribution zone where sell-side supply and new demand collide,” adding that “the market is at a crossroads between whale selling and new demand.”

Meanwhile, institutional flows are still being cited as a headwind. Over the past four days, spot Ethereum exchange-traded funds (ETFs) have seen continued net outflows, indicating softening institutional demand. According to Glassnode, the 30-day average of inflows into U.S. spot Ethereum ETFs has also turned back negative after a brief uptick. Outflows have continued across global Ethereum investment products as well, limiting a broader recovery in demand.

The market is watching ETF flows as a key variable that could determine the next price direction. Cointelegraph, a crypto-focused media outlet, said that “if ETF inflows return to a steady uptrend, it could become a key basis for the resumption of Ethereum’s upward trend.”

On the technical side, the low-$2,000 area is being flagged as a major support/resistance zone. Wise Crypto identified $2,027 as a key near-term support level and $2,148 as short-term resistance. He said Ethereum could see bullish momentum resume if it breaks above resistance, but warned that if support fails, additional downside to $1,928 remains possible.

Another analyst, Ali Martinez, assessed the $1,800–$2,000 range as a strong buy-side base and pointed to $2,356 as a key resistance level. A breakout could open room to rise to $2,647 and potentially as high as $3,639, the analysis said.