Ethereum (Ethereum) faces potential new selling pressure after whales moved large amounts of Cryptocurrency To major exchanges.
In this line, blockchain tracking data shows that two wallets are linked to Galaxy Digital transfer A total of 45,000 ETH, worth approximately $104 million, were sent to Binance, Bybit, and OKX within 15 hours.
Transactions were executed on multiple tranches, ranging from about 1,500 ETH to 15,000 ETH per transfer, according to Insights. subscriber by Arkham On April 28th.
It should be noted that transfers to central exchanges are often seen as a signal that assets may soon enter the market, as traders move funds to access liquidity.
While it is still unclear whether Ethereum will be sold immediately, the volume and speed of these transfers have been established Investors‘ attention.
Large exchange flows can boost supply in the short term and influence prices if selling ensues. As a result, recent whale activity has added to cautious sentiment in the already sensitive cryptocurrency market, where large transactions often lead to volatility.
What’s next for Ethereum price?
In terms of price forecasts, on-chain data indicates that Ethereum is approaching a key technical point. according to Vitreous node Analytics subscriber by encryption On April 28, according to analyst Ali Martinez, ETH is trading within a crucial support range between $2,277 and $1,980.
This view is based on the UTXO Realized Price Distribution (URPD), which shows where ETH last moved on-chain and highlights key accumulation areas.
A heavy concentration of holdings within this range indicates strong demand, making it a potential support area. Historically, these areas help stabilize prices during corrections.
Staying above this range could support a consolidation or bounce, while a break below $1,980 could open the door to further decline.
Currently, Ethereum’s outlook remains balanced between rising selling pressure from whales and the strength of its support base.
Ethereum price analysis
By press time, Ethereum was trading at $2,274, a slight correction of about 2% over the past 24 hours. On a weekly basis, the cryptocurrency, which ranks second in terms of market capitalization, also fell by a similar margin.
Based on the current price, Ethereum price is just above the 50-day period Sama at $2,188 but remains well below the 200-day simple moving average at $2,769.
This situation indicates a mixed trend: short-term momentum is holding, but the broader trend remains under pressure as long as the price remains below the long-term average.
The 14 days RSI The 52.74 level is considered neutral, and does not indicate overbought or oversold conditions. This reflects the market’s lack of strong directional conviction, with room to move in any direction depending on catalysts.
