Here’s the Impact on ETH Price
The crypto market faces a decline in volatility following several announcements about Donald Trump’s tariffs. As a result, the price of Ethereum (ETH) fell below the critical $2,000, causing a surge in the speed of long-term liquidation. During this period, various Ethereum chain indicators became bearish, indicating a decline in accumulation. However, analysts expect ETH prices to rebound significantly ahead of the upcoming crypto summit.
The whale’s pressure drops into the drop in ETH
Coinglass’ latest data shows that Ethereum’s trading activity is equal, still below $2,500. In the past 24 hours, Ethereum’s total liquidation was approximately $47.87 million, buyers liquidated $28.1 million, and sellers ended $19.7 million on short shares.
Meanwhile, major investors are taking advantage of the opportunity to buy Ethereum at a lower price, especially ahead of the upcoming White House crypto summit. Traders are particularly focused on wallet activities related to Trump-approved World Free Finance (WLF).
Please read also: Despite the loss, Trump’s WLFI still buys $10 million in Ethereum – That’s why
According to link intelligence firm Arkham Intel, WLF’s wallet tripled its Ether stake in just one day. WLF has been actively buying Ethereum during its recent price decline. Arkham Intel reports showed that as of Thursday, WLF held about 7,100 Ethereum tokens worth more than $80 million. This significant increase from 2,500 tokens in 24 hours highlights a strong accumulation strategy.
Data from intotheblock shows a significant decline in whale activity in Ethereum, which coincides with the price drop in Ethereum. The count of whale trades dropped significantly, from 13.4K transactions at altitude to just 6.46k. In addition, the number of large transactions has dropped sharply, from $11 billion to $5.5 billion.
This decline in whale pressure follows a negative trend in unrealized profits for large holders. Encrypted data show that ETH whales, especially those with holdings ranging from 1,000 to 10,000 ETH, from 10,000 to 100,000 ETH, experienced unrealized profits.
What’s next for ETH price?
Due to buying pressure, ETH price returned to $2,300. However, it failed to surge further as the bear strongly defended its resistance level. As of this writing, Ethereum price has traded at $2,200, down 0.9% in the past 24 hours.
The ETH/USDT trading pair strives to approach the instant resistance line at $2,530. Since STH may continue to liquidate here, this level may be a major obstacle. However, as demand surges, buyers may soon exceed that level.
If the price is below the EMA20 trend line on the 1-hour chart, the seller may try to reduce it to $2,000.
However, as the RSI level continues to trade at the mid-line of level 45, it may trigger a retest of the resistance channel. If the price manages to hold more than $2,530, it will be beneficial to the buyer. The pair could then increase to $2,935.
