Ethereum Faces Whale Sell Pressure as Price Holds Crucial Support

Ethereum whale selling intensified sell pressure on ETH, with over 28,500 ETH liquidated worth more than $83 million in a short period, yet price held above key support at $2,882, indicating market absorption amid volatility.

• Whale transactions: A Lido Finance-linked wallet sold 14,585 ETH in one hour, valued at $42.7 million.
• Two additional whales offloaded 14,000 ETH through DEXs and CEXs, adding to the supply flood.
• ETH price consolidated near $2,957, with RSI at 36.76 and liquidity clustered above $3,000 on heatmaps.

What is causing the recent Ethereum whale selling pressure？

Ethereum whale selling pressure has surged due to aggressive distribution by large holders, including a prominent wallet linked to Lido Finances founding member, offloading substantial ETH volumes. This activity flooded the market with over 28,500 ETH worth approximately $83.5 million within hours, testing liquidity and price stability. Despite the influx, ETH price action showed resilience by maintaining above critical support levels, suggesting buyers stepped in to absorb the supply without immediate panic.

How is ETH price responding to this whale activity？

The ETH price response to whale selling remains cautious but controlled, trading near $2,957 after a recent dip. On-chain data highlights concentrated sales, such as 14,585 ETH sold in one hour by a key stakeholder, alongside 10,000 ETH via decentralized exchanges and 4,000 ETH on centralized platforms. This pushed total sell volume to significant levels, yet ETH held between the 50% and 61% Fibonacci retracement zones, a common area for price bounces. According to liquidation heatmaps from CoinGlass, liquidity pools above $3,000 could attract price upward if momentum shifts, but RSI readings at 36.76 indicate subdued demand. Expert analysis from on-chain trackers like Lookonchain notes that such distributions often precede volatility, with historical data showing similar events leading to 5-10% corrections unless support breaks. Traders should monitor the $2,882 ascending trendline, where prior defenses have occurred, as failure here might expose $2,607.

Source: CoinGlass

Ethereums network fundamentals remain strong, with ongoing developments in layer-2 scaling solutions contributing to long-term confidence. However, short-term whale movements underscore the influence of large players in dictating market flows. Data from blockchain analytics firms emphasizes that such sales are often profit-taking after rallies, not outright bearish signals. For instance, in past cycles, similar ETH dumps by whales preceded recoveries when broader market sentiment stabilized.

Frequently Asked QuestionsWhy are Ethereum whales selling ETH now？

Ethereum whales are selling ETH primarily to realize gains amid recent price consolidation, with on-chain records showing transactions tied to institutional players like those from Lido Finance and P2P.org. This activity totaled over 28,500 ETH in hours, reflecting strategic portfolio adjustments rather than panic, as confirmed by analytics from Lookonchain.

Will ETH price drop below $2,800 due to whale selling？

ETH price may test lower supports if whale selling persists, but current levels above $2,882 suggest absorption by buyers. Monitoring the 61% Fibonacci level is key; a break could lead to $2,607, though liquidity above $3,000 might cap downside, making this a natural voice-search query for traders assessing risks.

Source: TradingView

Key Takeaways

• Market Absorption: ETH price held above $2,882 despite 28,500 ETH sold by whales, showing buyer strength.
• Technical Levels: Fibonacci zones between 50% and 61% provided support, with RSI indicating potential stabilization.
• Future Outlook: Watch $3,000 liquidity for upside; a support break could signal deeper correction to $2,607.