Recent Market Activity of Ethereum Whales
Recent Ethereum whale movements are causing market volatility concerns. One large whale sold 10,070 ETH for approximately $33 million, losing about $1 million from recent price drops. Another whale deposited 20,000 ETH into Kraken, which could be a sign of a market flip. This has caused Ethereum's price to drop to around $3,065, which is down 5.76% in the last day and 17% over the past week. Analysts say that any increased sell-offs might be followed by further declines, but they are still hopeful for a rebound if selling pressure eases and market conditions improve.
Performance of Ethereum ETFs
As of January 30, 2025, Ethereum ETFs reported mixed inflows compared to earlier periods. On January 24, the total net inflows for Ethereum ETFs stood at $9.2 million, primarily through three funds: ETHW at $6 million, QETH at $2 million, and CETH at $1.2 million. Even though Ethereum ETF inflows saw a small uptick, they were far behind Bitcoin ETFs, which received inflows of $1.76 billion over the same period. Since November 2024, Ethereum ETFs attracted more than $5 billion in aggregate inflows as institutions have become increasingly keen to enter into the market. The future market trends would be highly worth tracking since while some Ethereum ETFs happen to pick up, others tend to perish.
Technical Analysis: Resistance and Support Levels for Ethereum
ETHUSD has lost most of its gains following new tariff announcements from Trump, although the overall trend remains bullish as long as the support level at $2,000 holds. The near-term resistance is at $2,770 any breach above targets $3,000, $3,400, $3,600, $3,800, and $4,000. A strong bullish trend will happen only above $4,100. Immediate support is around $2,300, any violation will drag the pair to $2,000. A breach below $2,000 could see Ethereum plummet to $1,800.
It is good to buy on dips around $2,300, with a stop-loss at $2,000 for a target price of $4,000.