Ethereum breaks $2,400 as retail sells, whales absorb supply

Ethereum breaks $2,400. Retail sells. Whales hold.

Price tagged $2,423. Volume picked up. RSI sits near 60.

On-chain shows a split. Retail sent coins to Binance. Inflows hit 372,534 ETH versus a 7‑day average of 277,709. SOPR at 1.0157 shows profit-taking, not capitulation. CryptoQuant.

Whales show the opposite. The 10k–100k cohort sits at a -0.002139 MVRV. Underwater whales don’t sell. They reduce supply pressure. CryptoQuant.

The mega-whale realized price is $2,090.30. The resistance to watch is $2,429.30. That’s the long-term accumulator base. CryptoQuant.

The Coinbase premium flipped positive. U.S. bid improved into the move. NewsBTC summary of CryptoQuant.

What it means for Ethereum now:
- Break and hold above $2,429.30 opens upside. CryptoQuant
- Retail supply must be absorbed at $2,400. CryptoQuant
- The $2,090.30 floor anchors downside risk. CryptoQuant