Ethereum has cooled after months of strong buying pressure and bullish momentum, with the market now entering a consolidation 0 recent weeks, ETH has traded sideways just below its all-time high, leaving investors uncertain about the short-term 1 the lack of follow-through has tempered some of the optimism seen earlier this year, fundamentals suggest that Ethereum’s position in the market remains 2 accumulation continues to be one of the defining themes supporting ETH. Large-scale withdrawals from exchanges point to a steady trend of investors moving coins into long-term storage rather than keeping them liquid for 3 to Lookonchain, a newly created wallet identified as “0x9d2E” recently withdrew 21,925 ETH, valued at $102 million, from 4 activity highlights the growing presence of deep-pocketed buyers who are unfazed by short-term volatility and are instead positioning themselves for Ethereum’s long-term 5 the same time, macroeconomic uncertainty that weighed heavily on risk assets earlier in the year is beginning to 6 institutions stepping in and broader conditions stabilizing, Ethereum’s consolidation may prove to be a healthy reset before its next decisive 7 coming weeks will be crucial in determining whether ETH can break higher or extend its sideways 8 Continue Accumulating Ahead of Key Test Lookonchain also reports that a newly created wallet “0x9D99” recently withdrew 5,297 ETH, worth $24.7 million, from Binance and Bitget 9 nearly the same time, another major player, wallet “0x7451,” received an additional 13,322 ETH, valued at $61.65 million, from 10 transactions highlight the persistence of institutional-scale accumulation even as short-term traders remain 11 wave of withdrawals adds to a broader trend where ETH supply on exchanges continues to 12 coins move into private wallets and cold storage, available liquidity for immediate trading decreases, setting the stage for supply-driven price pressure.
Historically, periods of heavy whale accumulation have coincided with consolidation phases that later gave way to decisive 13 timing is particularly critical 14 is trading just below its all-time highs, with market participants watching closely for signs of whether the next move will be a breakout or an extended sideways 15 appear to be positioning ahead of a potential push into uncharted territory, treating current price action as an accumulation 16 Ethereum maintains structural strength while institutions keep absorbing supply, the groundwork could be laid for a breakout beyond prior 17 the same time, broader macro conditions—including the Fed’s rate policy—will likely influence the pace and scale of the next move.
Regardless, persistent whale buying suggests confidence in ETH’s long-term trajectory remains 18 Analysis: Short-Term Pullback In Play Ethereum (ETH) is currently trading at $4,533, showing a 1.44% decline after failing to sustain momentum above $4,700. The chart highlights a recent rejection near the local highs, leading to a pullback toward short-term moving 19 50 SMA ($4,414) now serves as immediate support, closely aligned with the 100 SMA ($4,452). This cluster of moving averages is crucial, as holding above it could stabilize ETH and prevent a deeper downside. A breakdown below this zone would open the door for a retest of the 200 SMA at $4,052, a level that has historically provided strong support during 20 the upside, Ethereum faces resistance near the $4,700–$4,750 range, which has capped price advances over the past few sessions.
A decisive close above this level would likely trigger a push toward the $4,900–$5,000 zone, putting ETH closer to retesting its all-time 21 now, ETH remains in consolidation mode, trading sideways within a broader bullish 22 accumulation and shrinking exchange balances continue to support the long-term outlook, but short-term volatility could 23 long as ETH holds above $4,400, the setup favors buyers, with potential for renewed upward acceleration once momentum 24 image from Dall-E, chart from TradingView
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