Ethereum Price Stalls as Retail Selling Meets Whale Demand

Ethereum is currently stuck in a sideways trend as two different groups of investors move in opposite directions. Data shows that large whales holding between 10,000 and 100,000 ETH have picked up a net 130,000 coins over the past week. This marks a notable return to accumulation for these major players.

However, this buying pressure is being cancelled out by smaller holders. Investors holding between 100 and 10,000 ETH sold a combined 360,000 coins during the same period. Many of these holders appear to be exiting their positions as soon as the price hits their break even point, which is preventing the asset from gaining any real momentum.

Institutional interest remains inconsistent as well. After a brief period of inflows, US spot Ethereum ETFs saw net outflows on Monday. With overall market trading volumes at some of their lowest levels since late last year, traders are hesitant to make any major moves.

For now, Ethereum is caught between key moving averages. Traders should keep an eye on the 20 day EMA near $1,869 for a potential breakout, or watch the $1,809 support level if the selling continues to outweigh the whale accumulation.