Ethereum Price Today: $1,540
Ethereum (ETH) traded near $1,540 on Friday, erasing much of its earlier gains following a temporary market rally spurred by the announcement of paused U.S. tariffs. Despite an initial surge of over 11% on Wednesday, the momentum quickly faded as bearish signals re-emerged. The pullback has been fueled by heightened selling pressure from large holders—commonly known as "whales"—whose recent activity has driven ETH’s price down from its peak of $1,682.
Technical indicators now suggest weakening bullish momentum, with buyers and sellers fiercely contesting the critical $1,500 support level. If this threshold fails to hold, further downside could unfold in the coming days.
Whale Activity Signals Caution Amid Macroeconomic Uncertainty
The short-lived rally in Ethereum coincided with former President Donald Trump’s recent announcement of a temporary pause on new tariffs, which initially boosted risk-on sentiment across financial markets. However, this optimism proved fleeting. Once the Trump administration clarified that a baseline 10% tariff would still apply to all imports, risk-off behavior returned—mirroring broader macroeconomic uncertainty.
This shift was clearly reflected in on-chain data. Large Ethereum holders took advantage of the brief price rebound to offload significant portions of their holdings. According to alerts from Lookonchain, a major whale that had not moved funds in two years sold 10,702 ETH at $1,576. Another long-dormant Ethereum OG (original gangster) liquidated 7,974 ETH after three years of inactivity. Additionally, a DeFi participant exited a large position of 28,999 ETH—likely to cover debt obligations.
Such coordinated selling has driven the total balance of whales holding between 10,000 and 100,000 ETH down to a five-month low of 24.66 million ETH. Over the past six weeks alone, these influential addresses have reduced their holdings by 1.18 million ETH—a clear sign of distribution during periods of market strength.
Historically, when whales begin distributing assets after a price rise, it often precedes a downturn. This pattern is evident in Santiment’s supply distribution charts, which show a strong correlation between whale outflows and subsequent price corrections—especially during times of macro volatility.
Further confirmation comes from ETH's Coin Age Consumed metric. A sharp spike in spent coin age—visible as blue peaks in Santiment’s charts—indicates that investors who bought during the January and February accumulation phases are now exiting positions. This behavior suggests profit-taking rather than long-term conviction, undermining the sustainability of the recent rally.
Technical Outlook: Battle at $1,500 Support Intensifies
According to Coinglass data, Ethereum saw $88.75 million in futures liquidations over the past 24 hours, with long positions absorbing the brunt at $66.64 million compared to $24.11 million in short liquidations. The heavy unwinding of leveraged longs highlights fragile market confidence.
After peaking at $1,682 on Wednesday, ETH dropped nearly 6% to test support near $1,540. The immediate battleground lies between $1,522 and $1,500. A break below $1,522 could open the door to retesting the lower boundary of a descending channel that has contained price action for nearly four months.
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Key Levels to Watch:
- Support: $1,500 (critical psychological level), then $1,400 (channel bottom)
- Resistance: $1,682 (recent high), then $1,800 (next major target if bullish momentum returns)
If Ethereum bounces from the channel’s lower trendline, a move toward $1,800 becomes feasible—especially if broader market sentiment improves. However, failure to defend this zone could lead to a deeper correction.
In worst-case scenarios, a breakdown below the channel could push ETH toward the $1,000–$1,100 range—the same zone that acted as strong support during the 2022 market crashes triggered by the UST/LUNA collapse and FTX bankruptcy. Given ongoing macroeconomic headwinds—including inflation concerns and geopolitical tensions—this floor remains a key watch level for long-term investors.
Weekly Chart Indicators Signal Divergence
On the weekly timeframe, technical indicators are flashing caution:
- Relative Strength Index (RSI): Showing bearish momentum with declining highs.
- Stochastic Oscillator: Entering oversold territory but without bullish reversal confirmation.
- MACD (Moving Average Convergence Divergence): Exhibiting negative divergence, suggesting weakening upside strength.
A weekly close above the upper boundary of the descending channel would invalidate the current bearish structure and potentially ignite a stronger rally. Until then, caution remains warranted.
Frequently Asked Questions (FAQ)
Why did Ethereum drop after Trump’s tariff pause announcement?
Although the tariff pause initially boosted market sentiment, clarification that a 10% base tariff remains in place reignited risk-averse behavior. Investors interpreted this as limited relief, leading to profit-taking—especially among large holders who used the rally to exit positions.
What does whale selling mean for Ethereum’s price?
When whales sell after a price increase, it often signals distribution—a phase where smart money exits before retail investors. Historically, sustained whale outflows precede price declines, especially when combined with weak technical structure.
Is $1,500 a strong support level for ETH?
Yes, $1,500 is both a psychological and technical support level. It aligns with short-term moving averages and previous reaction zones. A decisive break below could accelerate selling toward $1,400 or lower.
Could Ethereum reach $1,800 again?
Yes—but only if bulls reclaim $1,682 and sustain momentum. A breakout above the descending channel on strong volume would improve odds significantly.
What historical levels should investors watch?
The $1,000–$1,100 range is critical—it served as strong support during the 2022 crypto winter. A drop to this zone would likely trigger long-term buying interest if fundamentals remain intact.
How can traders protect against downside risk?
Using stop-loss orders near key support levels ($1,522 or $1,500), reducing leverage, and monitoring on-chain whale activity can help manage risk during volatile phases.
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Final Thoughts: Navigating Volatility with Discipline
Ethereum’s recent price action underscores a broader theme: short-term rallies driven by news headlines often lack staying power without structural buying support. The resurgence of whale distribution and deteriorating technical indicators suggest caution is warranted.
While the path to $1,800 remains open under a bullish reversal scenario, near-term risks are skewed to the downside. Traders should focus on key support levels and wait for confirmed breakout signals before adding exposure.
For long-term holders, dips into the $1,400–$1,500 zone may present strategic entry opportunities—especially if supported by improving on-chain fundamentals or regulatory clarity.
As always in crypto markets, combining technical analysis with on-chain intelligence offers the best edge in navigating uncertainty.
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