Whale investors have sold or redistributed 226,435 ETH, worth approximately $430 million, in the past 24 hours, according to analyst Ali Martinez. This activity has raised concerns about potential bearish momentum, with Martinez warning that a breakdown below $1,773 could put the bullish outlook on hold. Meanwhile, other analysts predict a possible collapse to the $1,400–$900 zone before a new rally. On the bullish side, a golden cross formation suggests resistance at $1,980–$2,080, with a target of $2,773. Exchange reserves for ETH have fallen to a 10-year low of 15.13 million coins, reducing immediate selling pressure and supporting a positive long-term scenario.
Large investors have offloaded a substantial amount of ETH, according to analyst Ali Martinez, who revealed that whales sold or redistributed 226,435 ETH over the past 24 hours, worth roughly $430 million at current rates. These investors now control 26.64 million coins, about 22% of the circulating supply.
Martinez said he is paying close attention to the $1,773 level, claiming that a breakdown below could “put the current bullish outlook on hold.” Another analyst, Crypto Lens, thinks ETH is stuck in the $1,860–$1,955 range, suggesting the real bull trap is just getting started. They predicted the price may jump to $2,000 but then collapse to its final bottom test in the $1,400–$900 zone.
“There’s a chance we’ll wick a candle to update the 2022 minimum and sweep liquidity. After that, whales will pump positivity around ETH when the price hits a new ATH,” the analyst concluded.
Bullish analysts have also shared forecasts. Martinez earlier this week spotted a golden cross formation, outlining the $1,980–$2,080 range as the first major resistance zone. “If bulls manage to clear it, the next key level I’m watching for ETH sits at $2,773,” he said. MikybullCrypto described ETH as “one of the best plays right now” and projected a 5x move from current levels. Gordon claimed that once the price breaks above $2,000, “there’ll be no looking back.”
The most optimistic forecast came from CrediBULL Crypto, who believes ETH is about to finish a multi-year base against BTC and is headed toward an all-time high of $20,000. The amount of ETH stored on crypto exchanges fell to a new 10-year low of 15.13 million coins, suggesting investors continue to abandon centralized platforms in favor of self-custody, which reduces immediate selling pressure.
