Ethereum has been in an important price zone again recently. Here, it is observed that the interest of large investors has increased and the movements on the buying side have become stronger, while selling pressure is also felt at the resistance levels. According to the latest data, Ethereum transactions are happening around $2,070. The price has decreased by approximately 1.4 percent in the last 24 hours. The market volume exceeded the level of 21.7 billion dollars. This outlook indicates that bullish indicators and selling pressure are effective together.
Increasing activity of whale whales draws attention
Looking at on-chain data, it appears that large-scale wallets on Ethereum have experienced a huge jump in transaction volume. In recent days, the number of whale transactions has increased rapidly, from around 120 to over 2,000 in a short time, an increase of approximately 1,500 percent. This increase points to accumulation processes in which large buyers collect liquidity during periods when the price is weak. Afterwards, whale transactions decreased to 239 levels again.
Similar sudden increases have been seen in the past, either during accumulation or sales processes. However, this time, the activity came close to the bottom levels, causing comments that some large wallets took positions by taking advantage of the declines.
Technical outlook and resistance zones
Recent price movements in Ethereum have brought about a strong pullback after a slow recovery. The price first dropped to the $1,950-$1,980 range, then formed rising lows and climbed to the $2,120-$2,150 range. However, it was noteworthy that sales pressure was encountered again at this level.
Technically speaking, the $2,100–$2,150 range acts as a supply zone in the short term and poses an obstacle to an uptrend. The first strong support on the downside lies in the $2,020–$2,050 range; Deeper support stands out at $1,950. As long as the price maintains its rising lows, the chance of recovery in the short term remains.
Re-strengthening of buying pressure and net taker volume
Additionally, recent data shows that net taker volume on Ethereum is approaching $133 million. This level stands out as the highest figure since July 2022. This activity on the buyer side shows that market entries are more aggressive rather than passively waiting for orders.
In this process, the strengthening of buying pressure in Ethereum is interpreted as an important signal that market demands are more lively.
However, unless the price can permanently rise above the determined strong resistances, the possibility of this buying movement being met by selling remains alive.
Rejection signals and market divergence in technical structure
In the analysis of price movements, it stands out that Ethereum is touching both the fair value gap and the rising resistance line at the same time. In particular, the $2,100–2,140 band points to both critical thresholds in technical analysis and the supply zone. The reaction here shows that sellers are still active. As strong resistance continues in this region, the possibility of the price retreating to the demand point around $1,950 remains on the agenda.
Additionally, the Ethereum price has been showing signs of partial divergence compared to other altcoin markets in recent days. While the broader altcoin market is experiencing bearish pressure, Ethereum’s neutralizing price action may indicate relative strength is building.
