Ethereum has fallen about 9% from its recent peak, entering a corrective phase and a distribution zone where whale selling collides with new accumulation. Prices are fluctuating in the $2,000–$2,100 range, and investors are divided over the next directional move. As Ethereum pulls back from its recent peak, the market has entered a turning point as whale selling clashes with accumulation by new investors. On-chain data show a clear tug-of-war in supply and demand.
Whale investors have been moving Ethereum to exchanges over the past week, a pattern consistent with profit-taking. This is interpreted as overhead selling pressure that could cap gains. At the same time, buying on dips—centered on new wallets—has also been observed, providing support on the downside. Ethereum withdrawn from exchanges by new wallets was tallied at roughly $1.8 billion.
This is described as a typical distribution zone where sell-side supply and new demand collide, indicating the market is at a crossroads between whale selling and new demand. The 30-day average of inflows into U.S. spot Ethereum ETFs has turned back negative after a brief uptick. Outflows have continued across global Ethereum investment products as well, limiting a broader recovery in demand. The market is watching ETF flows as a key variable that could determine the next price direction.
ETF inflows returning to a steady uptrend could underpin a resumption of Ethereum’s upward move. On the technical side, the low-$2,000 area is being flagged as a major support-resistance zone. A key near-term support level is $2,027 and short-term resistance is $2,148. A breakout above this resistance could resume momentum, but if support fails, downside to $1,928 remains possible.
The $1,800–$2,000 range is seen as a strong buy base with resistance around $2,356. A breakout could open room to rise to $2,647 and potentially as high as $3,639.
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