Ethereum Whales Cashing Another Price Dip Coming?

Ethereum (ETH) price may be in trouble considering the worrisome signs observed from its ongoing market activity.

A large whale sold 1,160 ETH, which they had bought eleven months earlier for $3,816 each at a substantial financial detriment.

This transaction resulted in $2.6 million worth of losses. Thats because the price has fallen to $1,580 for each ETH token.

The price decline amounted to 58.6%. Ethereum price faces ongoing challenges in price stability as the general market tries to recover from what can be termed a bear market.

Source: Lookonchain (X)

The full-scale sale of 1,160 ETH by the whale functions as an indicator of market-wide attitudes toward ETH.

The whale maintained their assets for close to twelve months. Yet, market conditions, along with current price fluctuations, forced them to sell all their holdings.

The value of the sold ETH coins totaled $1.83 million. It was significantly below the initial investment of $4.43 million. The whale had purchased ETH from OKX at $3,816 per token.

Ethereum Price Struggles: Technical Analysis Overview

Ethereum price stood at $1,591.24 as of press time, as per CoinMarketCap data. It displayed a 1.68% increase in a day.

Ethereum maintained a market cap value of $192.26 billion while its trading activities exceeded $14.01 billion.

Current data reveals a positive sentiment in the market though the investor interes,t has dropped slightly.

It is worth noting that Ethereum showed similarities with price action and triangle formations in the Ethereum market structure in 2020 and 2025.

For the 2020 market cycle, Ethereums price had a massive drawdown. ETH price then consolidated and continued to increase rapidly.

Additionally, after a similar drawdown, the 2025 triangle pattern is also forming on the Ethereum cycle chart.

The two patterns signal a possible setup for a bullish breakout. The history showed that the consolidation triangle formation in Ethereum resulted in significant price increases.

A similarity of the 2025 chart to the price behavior in 2020 indicated the repeat of a major price surge.

This pattern is critical, as it predicts possible future explosive movements. That, however, depends on whether the triangle breakout is confirmed. It could lead Ethereum price to new highs.

ETH Cycle Chart | Source: X

Price Action and Market Structure

Ethereum traded on a descending channel within a strong downtrend pattern, according to daily ETH/USD data on TradingView.

The price reached a maximum value of $1,800, which proved to be strong resistance through consecutive rejections.

When writing, ETH maintained its trading position around the channel patterns defined limit points.

The price continued to produce bearish market indications through successive downward movements of both highs and lows.

This price movement showed that Ethereum price kept declining without clearing essential resistance boundaries while facing downward pressure.

1-Day ETH/USD Chart | Source: TradingView

Recent Ethereum price drops stand out because multiple prior attempts to surpass $1,800 could not succeed.

A major 24-hour selling wave produced powerful bearish market conditions as the price fell to $1,560 before finding momentary backing.

The MFI at 20.71 suggested a clear price rebound was not verified. This MFI marked a severe overpricing level of 20.71.

It indicated Ethereum may soon establish its bottom point in the short term. Thats due to no sign of buying pressure.

Multiple indicators indicated the markets risk-averse behavior due to minimal enthusiastic buying activity.

Generally, Ethereum price will need to break above the falling wedges resistance at around $1,800 and stay above to resume bullish momentum.

It should be accompanied by a rise in volume and buying interest. Ethereum can remain in the consolidation phase until then.

There is room for southward movement should such crude market conditions continue.