Ethereum (ETH) has pulled back from its March high by about 9%, with on-chain data shared by analyst Wise Crypto showing a split between whale selling and fresh accumulation. According to the trader, the next few days will test whether buyer demand can absorb selling pressure as key levels at $2,027 and $2,148 come into focus.
Key takeaways
Quick scan — what you need to know:
- Ethereum (ETH) has pulled back from its March high by about 9%, with on-chain data shared by analyst Wise Crypto showing a split between whale selling and fresh accumulation.
- According to the trader, the next few days will test whether buyer demand can absorb selling pressure as key levels at $2,027 and $2,148 come into focus.
- Whale Selling vs.
- Steady Accumulation Flows In a post on X on March 24, Wise Crypto explained that ETH had dropped from its March high to around the $2,100 level after large holders distributed into the rally.
Background
What led here, in plain terms:
- At the same time, investors withdrew ETH from exchanges worth about $1.8 billion, a move the analyst linked to longer-term holding rather than immediate selling.
- The situation created a short-term standoff that put the $2,027 level under scrutiny as a critical support zone while $2,148 became near-term resistance.
- According to Wise Crypto, if ETH breaks above the resistance, it could reopen upward momentum, but if it drops below support, it may be exposed to more downside toward $1,928.
- “The market is a tipping point,” they noted.
Why it matters
Why readers and decision-makers should care:
- What this does is reduce the amount of ETH that’s readily available for sale.
- Furthermore, there has been rising network activity, with XWIN suggesting that the increase reflected real demand and not just speculative trading.
- The post Ethereum Tipping Point: Whales Selling Amid Fresh Accumulation (Analyst) appeared first on CryptoPotato.