Ethereum Price Stabilizes as Whales Withdraw $155 Million Worth of ETH from Exchanges

Ethereum (ETH) price is showing signs of stabilization as large investors are actively withdrawing significant amounts of ETH from major cryptocurrency exchanges.

Reportedly, a whale wallet with the address 0x2A93 withdrew 11,623 ETH, worth approximately $24 million, from Coinbase. Almost simultaneously, another whale wallet (address 0x8E34) moved 63,324 ETH, valued at around $131.2 million, from the Kraken exchange.

Ethereum Price Analysis

Ethereum Price Analysis | Source: Crypto.News The chart shows that after rebounding from lows near $1800, ETH has been consolidating between $1950 and $2150 for several weeks, forming a sideways trading structure. Direct resistance lies in the $2150 to $2200 range. A decisive break above this area could trigger upward momentum, moving towards the $2400 level, where the previous sell-off accelerated. On the downside, strong support appears near $1950, with deeper structural support around $1800, which was the February bottom. The Relative Strength Index (RSI) is currently near 50, reflecting neutral momentum, indicating that the asset is neither overbought nor oversold. This reading often occurs during consolidation phases before larger directional moves. Meanwhile, the Accumulation/Distribution indicator has stabilized after a sharp drop earlier this month, suggesting that buying pressure may be gradually returning. However, traders may watch for a break above $2200 to confirm bullish continuation. Until then, Ethereum may remain stuck within its current range as the market awaits a decisive catalyst.