Ethereum's price has been fluctuating between the $1,500 support level and $1,600 resistance, with whale activity potentially triggering a significant rebound. Despite Bitcoin's recent surge past $30,000, ETH remains below key bullish indicators—trading under $1,600 support/resistance on Thursday. A dip toward $1,500 could absorb liquidity and build momentum for recovery.
Key Ethereum Network Growth Metrics
100 Million Addresses Milestone
While ETH prices face a crypto winter, the network continues expanding:
- Balanced addresses grew steadily, reflecting increased interest in Ethereum (ITB data).
- Users are long-term holding ETH, per finelady_p's X analysis.
- Recent SEC approvals of Ethereum futures ETFs further boosted engagement.
Whale Activity Surge
Santiment reports:
- 32.3% of circulating ETH is held by whale addresses (1M+ ETH)—a first since 2016.
- Over $1M transactions occurred Wednesday, marking the second-highest activity day in five weeks.
- Historical patterns suggest bullish momentum building toward 2024–2025.
ETH Price Analysis: Bearish Signals vs. Bullish Potential
Technical Indicators
- MACD: Bearish with values below zero (average line).
- Weekly Chart: ETH trades below ascending trendline, favoring shorts.
- Key supports: $1,500 (liquidity accumulation zone).
Recovery Triggers
Breaking above these levels could ignite rallies:
- 200-week EMA: $1,625
- 21-week EMA: $1,696
- 100-week EMA: Breach may propel ETH to $2,000–$3,000.
FAQs
Q: What’s driving Ethereum’s network growth?
A: Rising institutional interest (ETFs) and long-term holder accumulation.
Q: How do whale activities impact ETH prices?
A: Large transactions often precede volatility—recent spikes hint at impending bullish shifts.
Q: When might ETH rebound?
A: A $1,500 consolidation could set the stage for recovery toward $1,600+.
👉 Discover real-time ETH trends
👉 Why whales bet big on Ethereum
Investment Disclaimer: Market risks apply. This analysis isn’t financial advice.
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