By Key Points
- Ethereum Price Struggle Continues as Whale Activity Drops
- Ethereum is down 30% in 30 days, struggling to break $2,000.
- BBTrend turns positive at 0.22, hinting at weaker selling pressure.
- Ethereum whale count drops to 5,752, showing low investor confidence.
- If support at $1,823 breaks, ETH could fall below $1,700.
Ethereum (ETH) continues to struggle, failing to reclaim the $2,000 level after a nearly 30% drop in the past month. Bearish sentiment remains strong, with large investors showing little interest in accumulating ETH at current prices.
Whales are accumulating Ethereum at full speed.
It’s only a matter of hours, not days, before $ETH teleports above $2,000.
Follow the money, honey. pic.twitter.com/y1hIoneosI
— Sake (@apebayc) March 18, 2025
The broader crypto market has also been facing turbulence, with Bitcoin ETFs experiencing significant inflows and outflows in March, indicating shifting investor sentiment. While Bitcoin remains a dominant force, Ethereum has been underperforming, causing concerns among traders.
Despite some signs of stabilization, the lack of strong whale activity keeps ETH below key resistance levels. Market watchers are now questioning whether Ethereum will dip below $1,700 or if it can stage a recovery.
$ETH price has dropped to the most critical point, where the upward trend is still in place and the structure is not broken.
Below $1700, personally, we will lose the desire to look towards #Ethereum
📈 In the meantime, we stick to positive thinking and expect the #ETHUSDT price… pic.twitter.com/pbCqJcCXFh— PS trade (@PStrade2) March 14, 2025
BBTrend Flips Positive, But Momentum Is Still Weak
Ethereum’s BBTrend indicator, which tracks market momentum relative to Bollinger Bands, has turned positive at 0.22 after six days in the red. This shift suggests that selling pressure might be slowing, but it’s not yet a sign of a strong bullish reversal.
Just a few days ago, BBTrend hit a low of -17.68 on March 13, indicating strong bearish momentum. The recent move into positive territory could be an early sign that sellers are losing control. However, since 0.22 is still a weak reading, Ethereum’s price remains vulnerable to further declines.
ETH BBTrend. Source: TradingView – Techtoken
Ethereum’s weak performance has raised concerns about its future growth potential. Many analysts believe ETH’s long-term value will be tied to its network upgrades and institutional adoption. However, short-term price action remains under heavy bearish pressure.
Traders will be closely watching whether ETH can maintain its current support levels or if another wave of selling could push it lower.
Whales Are Staying Away From Ethereum
One major concern for Ethereum’s price action is the declining number of whale investors. Wallets holding at least 1,000 ETH have been dropping since February 22, shrinking from 5,828 to 5,752.
This trend suggests that large investors are either reducing their exposure or waiting for lower prices before re-entering the market. Whale activity plays a crucial role in price stability and rallies—without strong accumulation from big players, ETH may struggle to regain momentum.
ETH Whales. Source: Glassnode – Techtoken
With Ethereum’s market dominance now at its lowest since 2020, the broader crypto market may also be shifting its focus to other assets. Meanwhile, regulatory uncertainties, such as the Libra lawsuit involving Burwick Law and Meteora, continue to impact investor sentiment.
Additionally, the increasing number of crypto exploits and hacks on platforms like the BNB Chain could be contributing to a risk-averse market, leading investors to remain cautious about large-scale Ethereum investments.
Can Ethereum Hold Above $1,700?
Ethereum’s next key support sits at $1,823. If this level fails to hold, ETH could slide toward $1,759, and a further breakdown could push it below $1,700 for the first time since October 2023.
On the flip side, if Ethereum manages to regain strength, the first major resistance stands at $1,956. A successful breakout could pave the way for a rally to $2,106, with further upside targets at $2,320 and $2,546.
ETH Price Analysis. Source: TradingView – Techtoken
One positive signal for the crypto market has been MicroStrategy’s continued Bitcoin accumulation. The company recently purchased 130 more BTC, reinforcing institutional interest in digital assets. If institutional investors extend their focus to Ethereum, it could provide much-needed momentum for the asset.
For now, Ethereum’s price remains under pressure, and the lack of whale accumulation suggests that a strong recovery may not be imminent. Traders will need to watch support levels closely as the market decides its next move.
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