Ethereum Price Today: $3,300
- Net selling pressure of 120K ETH triggered by small-scale whales and short-term holders amid market decline.
- Large whales absorb selling pressure, accumulating 210K ETH in a buy-the-dip strategy.
- Rounding top pattern suggests potential decline to $3,110 if bearish momentum persists.
Ethereum (ETH) dipped below $3,300** on Wednesday, losing **4%** as short-term holders drove sell-offs. Without stronger whale support, ETH may slide further to **$3,110, completing the rounding top pattern.
Whale Activity vs. Short-Term Holder Sell-Off
Exchange Inflows Signal Selling Spree
- 120K ETH ($400M) flooded exchanges post-market decline (CryptoQuant data).
- Network Realized Profit/Loss shows $50M+ in panic-induced losses.
- Holders of 1K–10K ETH reduced balances by 110K ETH in 3 days.
Short-Term Holder Dominance
- Spikes in 90D/180D/365D Dormant Circulation confirm distribution by short-term investors.
- $130M+ long liquidations** in derivatives markets, with a single **$17.74M ETH/USDT position liquidated.
Whale Accumulation Counteracts Pressure
- Whales (10K–100K ETH holders) bought 210K ETH, offsetting sell-side momentum.
- 200K ETH withdrawn from exchanges in hours, signaling renewed demand (CryptoQuant).
Ethereum Price Analysis: Key Levels to Watch
Rounding Top Pattern Targets $3,110
ETH’s 8-hour chart confirms a rounding top formation, with:
- Immediate resistance at $3,425 (50-day/100-day SMAs + triangle boundary).
- Critical support at $3,216**; breach opens path to **$3,110 (measured move target).
Demand Zone at $3,019–$3,358
- Historically strong buying interest (10M+ ETH purchased in this range).
Technical Indicators
- RSI: Below neutral, favoring bears.
- Stochastic Oscillator: Oversold, hinting at rebound potential.
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FAQs
What is Ethereum’s current market position?
Ethereum remains the second-largest cryptocurrency by market cap, powering decentralized applications (dApps), DeFi, and NFTs.
Why are whales accumulating ETH now?
Large investors see $3,100–$3,300 as a strategic accumulation zone, anticipating long-term growth post-dip.
How does staking affect Ethereum’s price?
Post-Merge (PoS transition), staking locks supply, reducing sell pressure. Over 22% of ETH is currently staked.
What’s the significance of the rounding top pattern?
This bearish reversal pattern suggests a 10–15% decline upon completion, with $3,110 as the projected target.
Can Ethereum recover above $3,500 soon?
A breakout above $3,425** (resistance cluster) could fuel a rally toward **$3,550, but requires strong whale support.
Key Takeaways
- Selling pressure from short-term holders contrasts with whale accumulation.
- $3,110** is the next bearish target if support at **$3,216 fails.
- Staking and ETF flows remain critical to ETH’s mid-term trajectory.
👉 Track ETH’s live price action
Price predictions involve risks. Conduct independent research before investing.