$ETH
Ethereum needs to maintain support between $1500 and $1600, a level established by whale investors two years ago. Despite some selling over time, around 1.2 million Ethereum still hold this level. If this support fails, prices could drop to $1200, which could turn these investments into trapped investment positions. Nevertheless, it seems that surpassing this level has been peaceful.
After bouncing back from $1500, Ethereum faced strong resistance between $1800 and $1900, the area where whales accumulated nearly 2 million ETH in June 2023. ETH has recently broken through this resistance, and there are no significant signs of selling from these cost areas, indicating that whales are dissatisfied with current price levels.
In the range of $2700 to $2800, approximately 4.7 million Ethereum are being held, and they are currently at a loss. These contributors started accumulating it at around $3500 in January 2025, reducing their average costs to this range. If Ethereum can break through this level, there will not be large trapped positions above it. The largest selling pressure currently comes from 2.27 million Ethereum accumulated near $1800, with 1.01 million Ethereum remaining until May 16, after gradual selling during the price rise to $2600
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