Ethereum Price Prediction: ETH Dropped 7.3% This Week Following BTC’s Nose Dive – What Do the Whales Do?

Cryptocurrency Ethereum
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Ethereum drops 7.3% as BTC sells off, breaking key trendlines and testing $2,730 support. Whale spending hits a multi-year high—what does it signal for ETH next?
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Crypto Writer
Crypto Writer
Arslan ButtVerified
Part of the Team Since
Sep 2022
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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Ethereum is heading into a critical technical phase after sliding 7.3% this week, tracking Bitcoin’s broader market selloff. With ETH now sitting just above a major support cluster, traders are asking the same question: Is this a breakdown in progress, or the start of a deeper accumulation phase driven by long-term holders?

ETH Slips as Trendline Break Alters Market Structure

Ethereum broke below its multi-month ascending trendline earlier this week, ending a structure that had supported every corrective move since spring. The failure to reclaim the breakdown zone near $3,500 has kept the market defensive, and the descending trendline that has guided price since October continues to cap every attempt at recovery.

The daily chart reinforces the shift in tone. ETH was rejected cleanly off the 20-EMA, which has now rolled downward and is acting as dynamic resistance. Momentum indicators echo the weakness: the RSI is pinned near 34, sitting in bearish territory with no meaningful divergence to signal exhaustion.

Recent candlestick behavior tells a similar story. A cluster of small-bodied candles followed by a sharp push lower resembles the early stages of a three black crows formation, often a precursor to a broader trend continuation.

Whales Reposition: Long-Term Holders Increase Spending

Whale behavior adds another layer to the picture. According to Glassnode, 3–10 year ETH holders have increased their spending to over 45,000 ETH per day, marking the highest level since February 2021.

Historically, this shift has occurred near major market turning points, either during the early stages of deeper pullbacks or ahead of multi-month accumulation phases.

ETF activity has also cooled. Recent Coinglass data shows that ETH-focused funds logged one of their largest single-day outflows this quarter, reinforcing the defensive stance among institutions. Taken together, the on-chain and flow data suggest large players are repositioning rather than panic-selling, but they’re not adding aggressively either.

Ethereum (ETH/USD) Key Levels: Is $2,730 the Final Defense Before a Slide to $2,110?

Ethereum price prediction is bearish as ETH is hovering above $2,730, a support band that acted as a springboard in late May. While a reaction from this zone is possible, the broader technical geometry leans toward further downside unless buyers reclaim the $3,500 breakdown point.

A likely scenario is a temporary rebound into the underside of the broken trendline, essentially a classic retest, followed by another move lower toward the high-liquidity region around $2,110.

Ethereum Price Chart – Source: Tradingview

For novice traders, the cleanest setup is to avoid calling the bottom and instead wait for confirmation:

  • Bearish continuation: A daily close below $2,730 exposes $2,110, where deeper liquidity may attract buyers.
  • Bullish reversal: A reclaim of $3,500 invalidates the breakdown and opens a path toward $3,960.

Until one of these triggers fires, ETH remains inside a corrective channel, where patience, not prediction, remains the most disciplined position.

Bitcoin Hyper: The Next Evolution of BTC on Solana?

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Audited by Consult, the project emphasizes trust and scalability as adoption builds. And momentum is already strong. The presale has surpassed $27 million, with tokens priced at just $0.013265 before the next increase.

As Bitcoin activity climbs and demand for efficient BTC-based apps rises, Bitcoin Hyper stands out as the bridge uniting two of crypto’s biggest ecosystems. If Bitcoin built the foundation, Bitcoin Hyper could make it fast, flexible, and fun again.

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