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The price of Ethereum is down less than 1% in the last 24 hours. At first glance, the scheme seems calm. In addition, the slight decrease in price is associated with weak sales demand. But there is something else going on beneath the surface.
The new data on the chain show that the whales are increasing again, while a main indicator shows a rare change in the trend, leaning towards one of the two groups mentioned in this article.
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Retail sector slows as whales move
Ethereum is approaching Then the reverse head and shoulder pattern is complete. This is a bullish structure that indicates a trend reversal if the price breaks above $3,390. The problem appears before that external level (breakout). The momentum of the retail sector weakened this week.
Between December 18 and 24, the price has a higher trend. Usually, this is a positive sign. It does not track the Money Flow Index (MFI), which tracks money flowing in and out of an asset. He was making a low noise. This indicates that individual traders did not support the higher bottom with real buying.
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The MFI market now needs to cross 37 to form a higher level and show a stronger demand.
While the retail trade slowed down, the whales reacted in the opposite way. As of December 26th, wallets containing large amounts have grown from 100.48 million ETH to 100.6 million ETH.
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At current prices, that’s about $350 million pumped in the last 24 hours. Whales don’t buy for short-term hops. I usually buy because I believe a deal exists.
This dichotomy defines the current situation. The seller hesitates in the market. The whales come in. The following ETH price movement depends On the group that remains constant.
An indicator tilts towards the whales
The Relative Strength Index (RSI), a momentum indicator, supports the whales’ position.
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Between November 4 and December 25:
- The price has reached the lowest level
- RSI made a higher low
This is an upward deviation. This indicates that the selling pressure is losing steam, although the price has not yet confirmed this.
This type of divergence supports reversal patterns such as head and shoulder reversal. This does not guarantee that the escape from the team will happen. It gives the discovery attempt a greater chance of success if the price reaches the trigger zone. That’s why we now add Ethereum whales.
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Ethereum price zones determine the next stage
It must be restored Ethereum price $3,050 up front. This is a short-term barrier and resistance.
If the price breaks the result strongly, the next test is the neckline area at $3,390.
A break above $3,390 could trigger a head-and-shoulders reversal target near $4,400. This comes from adding the height of the head to the meeting point.
On the downside, a loss of $2,800 weakens the upside momentum. If the sale increases and the whales stop adding, the price of Ethereum could drop to $2,620. A drop below this level invalidates the bullish reversal structure.
