Ethereum Risks 25% Price Drop as “Massive Whale’”Moves $237m in ETH to Exchanges
The post Ethereum Risks 25% Price Drop as “Massive Whale’”Moves $237m in ETH to Exchanges appeared on BitcoinEthereumNews.com.
Key takeaways: Ethereum risks a 25% drop toward $1,600 after failing to break above a multi-year technical resistance. A whale moved over $237 million in ETH to exchanges, aligning with rising ETH inflows into Binance over five straight days. Wallet data suggests large ETH holders are redistributing or offloading, adding to bearish pressure. Ethereum’s native token, Ether (ETH), is showing signs of vulnerability after breaking below a key multi-year support level, just as a major whale appears to be dumping hundreds of millions of dollars worth of ETH. Technical breakdown puts $1,600 ETH target in play On the two-week chart, Ether has slipped below the lower trendline of a symmetrical triangle that had held firm since mid-2022. In March, the 200-period exponential moving average (200-period EMA; the blue wave) near $1,600 provided a temporary bounce, but the recovery stalled after hitting the 50-period EMA (the blue wave) around $2,545. ETH/USD two-week price chart. Source: TradingView The 50-period EMA aligns with the triangle’s lower trendline, forming a resistance confluence that ETH bulls have repeatedly failed to overcome in recent months, including June. Other indicators of bearish pressure include Ethereum’s relative strength index (RSI), which remains below a multi-year descending trendline. Despite recent price rebounds, the RSI has failed to break above the trendline resistance, indicating waning bullish momentum, reinforcing the likelihood of continued downside. ETH risks returning toward its 200-period EMA near $1,600 if this resistance confluence, marking a potential 25% slide from current levels. ETH whale wallets dump amid stalled recovery Ethereum’s onchain data further highlights the risk of ETH price declines in the coming weeks. Earlier in June, two Ethereum wallets, 0x14e4 and 0x26Bb, unstaked and withdrew 95,920 ETH (~$237 million), according to Etherscan. Of that, 62,289 ETH (~$154 million) has already been deposited to exchanges including HTX, Bybit,…
Filed under: News - @ June 30, 2025 11:28 pm