TLDR
- ETH trades near $1,877, down almost 4% in the past 24 hours
- $1,745 remains the key support level traders are watching
- A $36 million sell wall sits between $1,975 and $2,000
- Analyst Trader Symba sees a possible move to $2,425-$2,470 if support holds
- A whale added $14.6 million in ETH, bringing its total holdings to $37 million
Ethereum is trading near $1,877 after falling almost 4% over the past 24 hours. Daily trading volume rose above $12.1 billion during the sell-off.
The drop pulled ETH down from levels near $1,950. Price is now testing whether it can hold above the $1,745 support zone.
Traders see $1,745 as the line between a normal pullback and a deeper decline. As long as ETH stays above it, the recovery from recent lows is still seen as intact.
Trader Symba, a technical analyst on X, says Ethereum already dipped below $1,745 before reclaiming it. He calls this a deviation, a move that can trap sellers before price turns higher.
Symba’s chart points to a target range between $2,425 and $2,470 if ETH holds the reclaimed level. He notes the bullish case only works while price stays above $1,745.
The $2,000 Sell Wall
Getting past $2,000 will not be easy. Analyst Ted reported that around $36 million in sell orders are stacked between $1,975 and $2,000.
This wall of orders helps explain why ETH has struggled each time it pushes toward $2,000. A daily close above that level could open the door to $2,150.
Ted Pillows, another market watcher on X, pointed to liquidity sitting on both sides of the current price. He said the next big move likely depends on an outside catalyst.
He linked that catalyst to the Clarity Act, a piece of legislation traders are watching. A favorable outcome could pressure short sellers, he said, while a weak result could send ETH back toward $1,500.
Not every analyst agrees the path leads higher right away. Crypto Lens, who posted a longer-term chart on X, warned that ETH could be building a bull trap between $1,860 and $1,955.
In that scenario, Crypto Lens expects a rally into resistance followed by a distribution period lasting seven to ten days. The chart shows a possible bottom later between $900 and $1,400 if support breaks down.
A Whale Adds to Its ETH Stash
Away from the charts, one large investor made a move of its own. Blockchain analytics firm Arkham Intelligence reported that a wallet bought $14.6 million worth of ETH from custodian BitGo.
The purchase brings that wallet’s total ETH holdings to about $37 million. The same wallet had first built a $20 million position roughly six weeks earlier.
Arkham’s data shows the transaction happened on-chain, meaning anyone can check it. The wallet owner’s identity and reasons for buying are not known.
Whale purchases like this one are watched closely because large holders can affect liquidity. Ethereum has also drawn more institutional interest lately through ETFs, staking, and corporate treasury holdings.
For now, ETH continues to trade between the $1,745 support zone and the $1,975-$2,000 resistance area. The $36 million sell wall remains the main barrier to a move higher, while $1,745 stays the key level to watch below.
