The post Ethereum loses $3.7K – Why THIS ETH price level is key now! appeared on BitcoinEthereumNews.com.

Key Takeaways What does the accumulation from one particular group of whales mean? It shows their bullish conviction, but we should note that other cohorts continued to sell ETH in recent weeks. One group’s buying activity does not guarantee an immediate trend reversal. What should investors expect next for Ethereum? The recent selling pressure drove prices below a critical support level at $3.7k. The downtrend could take prices to $3.4k and $2.9k next. Ethereum [ETH] prices fell by 5.5% in 24 hours, taking the leading altcoin below the $3.7k support level. A recent AMBCrypto report highlighted why Bitcoin [BTC] bulls were shorting Ethereum. The digital asset treasury model for Ethereum was a strong narrative in the summer, and institutions such as BitMine Immersion [BMNR] accumulated ETH but faced falling share prices. The relative weakness of ETH, compared to Bitcoin, meant shorting Ethereum could be a tactical play for Bitcoin investors. Source: ETH/USDT on TradingView The Ethereum weakness is even more worrying when we examine the price chart. On the 1-day timeframe, ETH could leave behind a large imbalance between $3,839 and $3,654 if Tuesday’s trading session closes red. This imbalance reflected buyer exhaustion at the $3.8k and $3.7k levels, which were critical local supports over the past month. The falling OBV reflected steady selling pressure, and the RSI reflected persistent downward momentum. One Ethereum whale cohort continues to buy Source: Santiment The supply distribution metric on Santiment showed that holders of varying sizes were selling their ETH. This was evidenced by the decline in the number of addresses of varying sizes. However, one group of whales holding between 10k and 100k ETH continued to buy. Since the 9th of July, the number of wallets within this cohort has increased from 1,018 to 1,352. The supply of ETH they hold has…

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Filed under: News - @ November 4, 2025 1:30 pm