ETH Price Declines 3.7% as Whale Accumulation Exceeds 800,000 ETH
Ether (ETH) traded at $2,555.77 on Tuesday, down 3.7% in 24 hours after hitting resistance near $2,673, triggering selling pressure. The price decline follows increased volatility and a significant sell-off on Monday that broke key support levels.
Despite the downturn, on-chain data indicates that large investors are accumulating ETH. Glassnode reports daily net whale accumulation exceeding 800,000 ETH for nearly a week, with wallets holding 1,000 to 10,000 ETH surpassing 14.3 million. Notably, June 12 saw the largest single-day inflow of over 871,000 ETH, marking 2025's biggest net inflow.
This accumulation trend reflects patterns observed in 2017 and may indicate strategic positioning by large holders ahead of potential institutional flows or ETF developments.
Key technical points include:
- ETH dropped 5.7% from $2,679.99 to $2,527.37 on June 16, with trading volume over 560,000 ETH.
- A sharp drop confirmed resistance at $2,650, accelerating downward momentum.
- The recovery stalled near $2,540, forming a consolidation pattern.
- In the final hour, ETH rose from $2,550.57 to $2,564.28 before stabilizing around $2,553.40.
- A volume spike at 13:30 led to a brief 1.6% rally to $2,561.59.
- Support was found at $2,549.56 during a pullback, showing buyer interest.
- The $2,553–$2,555 zone emerged as a key level during the recovery phase.