Ethereum (ETH) is under pressure with a notable whale selling 1,160 ETH at a $2.6 million loss. Current market conditions reflect a price of $1,591.24, with resistance at $1,800 hindering recovery. Historical patterns suggest potential price surges, but bearish trends prevail without major buying interest. The MFI indicates a possible price bottom, yet further downward movement is feasible without resistance break.
Ethereum (ETH) is currently facing significant market pressures as evidenced by the recent activity of a prominent whale investor, who sold 1,160 ETH at a substantial loss of $2.6 million. This token was initially acquired for $3,816 each, marking a dramatic price decline of 58.6% to its current rate of $1,580. The sale indicates heightened anxiety within the market, reflecting broader difficulties in establishing price stability during ongoing bearish conditions.
As of the latest observation, Ethereum’s price was recorded at $1,591.24, noting a modest increase of 1.68% within the day. The market cap was documented at approximately $192.26 billion, with trading volume exceeding $14.01 billion. While market sentiment indicates slight positivity, investor interest has notably waned. It is worth mentioning that Ethereum’s current price behaviour bears resemblance to historical patterns noted in 2020 and is currently approaching a similar triangle formation identified for 2025.
Technical analysis has revealed that Ethereum’s price has been trending within a descending channel prolonged by downward pressure. Recently, ETH peaked at $1,800, which established strong resistance that has consistently thwarted upward movement. The observed bearish trend suggests persistent selling pressure, further exacerbated by a significant drop to $1,560 following a 24-hour wave of selling.
Indicators such as the Money Flow Index (MFI), currently at 20.71, implies that the market is experiencing high levels of selling, thereby indicating the potential for a price rebound remains unconfirmed. Ethereum may be nearing a short-term bottom despite the absence of substantial buying pressure. A decisive move above the $1,800 resistance level, alongside rising volumes, is crucial for shifting into a bullish trajectory. Absent such conditions, Ethereum risks further declines in the near future.
