The post Ethereum Approaches Key Resistance at $2,800 as Whales Shift and Momentum Wavers appeared on BitcoinEthereumNews.com.

Ethereum’s recent journey toward a significant resistance level of $2,800 raises concerns as large holders adjust their positions and market momentum wanes. ETH faces resistance at $2.8K, where a large cost-basis cluster signals strong sell-side pressure. Whale netflows to exchanges surged 193.84% in seven days, hinting at looming profit-taking. This article explores Ethereum’s near $2,800 resistance, focusing on whale activity and market sentiments impacting future price action. Ethereum Approaches Crucial Resistance Level Ethereum [ETH] is now approaching a heavy resistance zone around $2,800, marked by a significant cluster of investor cost basis levels. According to Glassnode, this price area may attract considerable sell-side pressure as investors look to de-risk their holdings at breakeven. At press time, ETH traded at $2,549.98, down 4.59% in the last 24 hours. While the price surge over the past two weeks caught many off guard, the current proximity to substantial sell pressure indicates that the rally could be running out of fuel. Increased resistance levels amplify the urgency for stakeholders to reconsider their positions. Source: X/Glassnode The Rally May Be Losing Fuel The recent drop in the Exchange Reserve by 3.66% to $48.18 billion indicates reduced selling pressure, a typically bullish sign. However, accompanying this, an Open Interest decline of 4.32% to $16.61 billion presents a mixed sentiment. Traders may be locking in profits or reducing exposure due to the impending resistance near $2,800. The divergence between decreased reserves and falling Open Interest indicates a hesitance among traders that could serve as a barrier to a breakout beyond current levels. Source: CryptoQuant Ethereum: Strategic Exit or Market Bluff? Data from IntoTheBlock indicates a 193.84% increase in the Large Holder-to-Exchange Netflow Ratio, suggesting that whales are sending ETH back to exchanges, possibly preparing for profit-taking. This behavior often indicates a distribution phase, particularly as prices approach…

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Filed under: News - @ May 24, 2025 11:13 pm