Ethereum is experiencing mixed signals in the crypto market, with over 368,000 ETH transferred to exchanges, indicating potential selling pressure. Critical price levels at $1,546.55 are under scrutiny, while a notable whale has begun selling significant amounts, contributing to market anxieties. Additionally, Ethereum ETFs are facing net outflows, contrasting with Bitcoin’s inflows. Overall, Ethereum’s future movements will depend on whether it can stabilise or rebound amidst ongoing market pressures.
Ethereum, the second-largest cryptocurrency by market capitalisation, is currently facing a volatile market environment with mixed indicators from on-chain data and investor sentiment. Since the beginning of April, over 368,000 ETH has been moved to central exchanges, signalling either a rise in selling pressure or increased trading activity as investors prepare for potential trades.
The exchange inflow surge often signifies that holders may be looking to sell. Ethereum’s price sits at a critical technical juncture, particularly around $1,546.55, which is a pivotal support level where 822,440 ETH have been accumulated. Traders are closely monitoring this area to determine whether the price will rebound or breakdown further.
Interestingly, the Sequential TD indicator has flashed a buy signal on Ethereum’s weekly chart, which contrasts with its recent downward trajectory. While this may suggest a potential price reversal, caution remains warranted due to significant sell-off activities, particularly from one of Ethereum’s oldest known holders associated with the 2015 ICO, who recently liquidated 612 ETH.
Despite the relatively minor impact of this sale on Ethereum’s overall liquidity, the historical significance of the whale’s behaviour draws attention, as they still retain a substantial holding of approximately 29,577 ETH. At the current sell-off rate, the whale could deplete their holdings in about three months.
Ethereum is also experiencing a bearish trend indicated by a net outflow of $5.98 million from spot ETFs on April 14, marking the fifth consecutive day of withdrawals. In contrast, Bitcoin ETFs reported slight inflows of $1.47 million during the same timeframe, indicating a potential shift in institutional sentiment against Ethereum amidst these contrasting trends.
Currently, Ethereum is at a critical crossroads. Its fundamental structure remains robust, with ongoing network developments and a robust position within decentralised finance still supporting the long-term narrative. However, market pressures are evident as trends from cryptocurrency exchanges raise concerns.
Should Ethereum maintain its position above the $1,546 support level and if the TD Sequential buy signal holds, a price rebound could occur. Yet, market participants may remain cautious until ETF outflows stabilise and the trend of long-term holder selling subsides. In the upcoming weeks, Ethereum’s performance will be scrutinised for potential upward movement or deeper corrections, which will significantly impact its trajectory in the latter half of 2025.
