Ethereum's total staked value has declined over the past five days, shedding 120,000 ETH.
In contrast, Ethereum whales resumed accumulation on Tuesday, purchasing 320,000 ETH.
If bulls fail to hold the ascending triangle's support level, ETH could drop to $1,522.
Ethereum (ETH) fell 2% on Tuesday, with net balances across staking protocols decreasing by 120,000 ETH over five days. While the drop in staked balances may accelerate selling pressure, revived whale buying activity could help this top altcoin defend a critical ascending triangle support level.
Ethereum Whales Resume Accumulation Amid Potential Staker Distributions
Under lingering market uncertainty, Ethereum investors staking their tokens began showing fatigue as they depleted their locked holdings. Over the past five days, Ethereum’s total staked value dropped by more than 120,000 ETH (≈$192 million).
Key Observations:
- Unstaking suggests investors are seeking to liquidate assets.
- If these tokens enter the open market, ETH could face additional downward pressure.
The staking outflows align with a rapid increase in Ethereum’s exchange supply over the past two weeks. Since early April, exchange-held ETH rose by nearly 400,000 tokens, briefly pushing prices below $1,500 last week.
👉 Why ETH’s exchange supply matters for price action
Whale Activity Shifts:
After offloading 570,000 ETH (April 2–14), large holders (10K–100K ETH) resumed buying on Tuesday, accumulating 320,000 ETH. Sustained whale demand could provide price support.
Ethereum Price Forecast: Bears Target Breakdown Below Ascending Triangle
Per Coinglass data, Ethereum futures saw $34.3 million in liquidations over 24 hours (longs: $24.72M; shorts: $9.58M).
Technical Outlook:
- Upside Scenario: Holding the triangle support at $1,600 could lead to a retest of resistance at $1,688 (aligned with a key downtrend line from March 25). A breakout might propel ETH toward $1,800.
- Downside Risk: A breakdown below the triangle could see ETH slide to $1,522. Losing this level may expose the $1,412 support zone.
Indicators: The RSI and Stochastic Oscillator recently dipped below neutral levels, potentially accelerating bearish momentum.
FAQ: Ethereum Staking and Price Trends
Q1: Why is ETH’s staked balance declining?
A: Investors may be unstaking to liquidate holdings amid market volatility or to reallocate assets.
Q2: How does whale accumulation affect ETH’s price?
A: Large buy orders can stabilize prices and create upward momentum by reducing available supply.
Q3: What’s the significance of the ascending triangle pattern?
A: It typically signals consolidation before a breakout. Holding support is critical for bullish continuation.
👉 Explore ETH trading strategies
Q4: Could ETH drop below $1,500 again?
A: Yes, if selling pressure intensifies or broader market sentiment turns negative.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Cryptocurrency trading involves risks, including capital loss. Always conduct independent research.
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