Whale Activity and Price Dynamics
As of January 30, 2025, there has been massive whale activity influencing the market for Ethereum, with ETH. On January 28, a major whale deposited approximately 17,750 ETH, amounting to about $54.41 million, into Binance, and such whales started hitting Ethereum's price to nearly the value of $3,058 and recorded more falls. Even with this sell-off, whales have been accumulating ETH. In January, addresses holding 1,000 to 10,000 ETH added about 330,000 ETH valued at over $1.08 billion. Also, active addresses on the Ethereum network increased to over 700,000 on January 25, which reflects a higher user engagement. Increased activity may be able to stabilize and even lift the price of Ethereum in the future.
Ethereum ETF Inflows and Institutional Interest
By January 30, 2025, Ethereum ETFs had taken inflows for January compared with the previous period, which were mixed. On January 24, total net inflows for Ethereum ETFs were $9.2 million, mainly spearheaded by three funds: ETHW at $6 million, QETH at $2 million, and CETH at $1.2 million. Ethereum ETFs were up modestly but lagged behind Bitcoin ETFs, which experienced inflows of $1.76 billion in the same period. Since November 2024, Ethereum ETFs have attracted more than $5 billion in total inflows, showing increasing institutional interest. Overall, it is important to track these trends for future market insights as some Ethereum ETFs are gaining attention while others are not.
Technical Analysis: Resistance and Support Levels for Ethereum
ETHUSD pared some of its gains due to profit booking. Overall trend remains bullish as long as support $2770 remains intact. The key near-term resistance is at $3400 any breach above targets $3600/$3800/$4000. A robust bullish trend will only materialize above $4100.
Conversely, immediate support is around $2900. Any violation below will drag the price down to $2770/$2500/$2300. A breach below $2000 could see Ethereum plummet to $1,800.
It is good to buy on dips around $3000 with a stop loss of around $2770 for a TP of $4000.