Ethereum bends, but does not break!
Ethereum is going through a delicate period. Since early October, Trend Research has multiplied massive sales, unloading $455 million worth of ETH on the market. Yet, against all odds, Ethereum holds steady around $4,590. Will this resilience last in the face of growing selling pressure?
In brief
- Trend Research has sold 102,355 ETH since October 1st, amounting to $455 million.
- On October 5th, this whale sold 41,421 ETH in a single day, for $189 million.
- Despite these sales, Ethereum holds at $4,590 with a 2.03% increase over 24 hours.
- Retail traders are also adopting a risk-reduction strategy in the futures market.
Ethereum faces whale pressure
Since the market rebound, Ethereum has struggled to truly soar . Whales have chosen to massively liquidate their positions.
Trend Research launched a second particularly marked wave of sales as early as October 1st. CryptoQuant data confirms this offensive: the average order size has significantly increased, with four consecutive days of massive transactions.
This dynamic is reflected in the numbers. The net Ethereum exchange flow recorded 81,700 ETH inflows, indicating intense spot selling activity. Historically, when leading players like Trend Research unload their holdings, it is often a sign of a lack of conviction regarding the immediate market trajectory.
Retail investors are also not showing more confidence. In the futures market, small traders have dominated the selling side for two days. The CryptoQuant CVD indicator highlights a “dominance of seller takers,” shown in red. In short, many retail traders are closing their positions, preferring to reduce their exposure.
This concerted movement – aggressive whale sales on one hand, cautious disengagement by retail on the other – reflects a latent bearish trend. More than just a technical correction, this attitude reveals a distrust regarding Ethereum’s ability to continue rising immediately.
An unexpected resistance that intrigues analysts
Despite an unfavorable context, Ethereum continues to defy bearish expectations. The asset still trades within an ascending channel, initiated from its low at $3,800, and even reached a recent high of $4,619. This resistance ability shows that the market effectively absorbs selling pressure without panicking.
Technical signals support this positive reading. The Directional Movement Index (DMI) rose from 20 to 28, proof of a marked resumption of bullish momentum. At the same time, the Relative Vigor Index (RVGI) rose to 0.22, confirming this constructive trend. Such levels often indicate potential continuation if the current conditions hold.
In this scenario, Ethereum could first target $4,673 before testing the key resistance at $4,800. A clear break of this psychological threshold would open the way to $5,000 , a symbolic level with few technical barriers above. Conversely, if whale selling pressure regains the upper hand, a pullback to $4,415 would remain likely, with strategic support at $4,248.
The tug of war between buyers and sellers is now reaching its peak. The real test will be whether the price of Ether can withstand massive selling pressure and maintain its upward momentum. The coming days will be decisive in determining if this resilience is just a reprieve or the prelude to a new bullish rally.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Samsung Electronics' 2nm yield approaches 60%, aiming at TSMC to compete for tech giants' orders
The yield rate of Samsung Electronics' foundry division's 2nm process has increased to nearly 60%, a significant improvement from around 30% in mid-2023. After stabilizing the yield, Samsung has shifted its engineering focus to power consumption and heat dissipation optimization, and is accelerating the development of the more powerful second-generation process, SF2P, aiming for mass production within the year. Strategically, Samsung plans to supply 2nm chips to Tesla next year, using this as a stepping stone to enter the large-scale tech client market.
From connecting users to hosting computing power, Philippine telecom giant Globe bets on AI data centers! Targeting the next billion-dollar business.
Globe Telecom Inc. plans to invest at least $1 billion by 2027 to expand its data business. The company regards its data center business as the next billion-dollar venture, with the rapid development of artificial intelligence being a key driving factor behind this goal.
Quantum Computing Reaches Historic Turning Point: Moving Beyond "Physical Experiments," Supply Chain and Manufacturing Become Key to Success
After attending the Quantum World Congress, Jefferies issued a major evaluation: the industry's core challenge has shifted from "creating good qubits" to "building truly usable computers." The source of competitive advantage has fully moved from physics innovation to system engineering and manufacturing barriers. The U.S. government has elevated its role from a funding provider to a rule-maker, with federal funding now linked to performance and the NQI Act about to be implemented. Whoever first achieves repeatable manufacturing and supply chain resilience will earn the ticket to compete in commercializing this technology.
Crypto prices
More
