Ethereum Stuck Between Retail Sell-Off And Whale Accumulation, Analyst Explains

Ethereum's price is approaching $2,000, sparking optimism for a potential trend reversal. On-chain data presents mixed signals, with short-term indicators showing weakness and long-term metrics indicating strength. Retail investors are increasingly depositing ETH on exchanges, suggesting selling pressure. Conversely, whale wallets are withdrawing ETH, signaling accumulation and confidence from larger investors. Funding rates are currently neutral, lacking a clear leverage bias, unlike the over-leveraged situation during the rally to $4,000. The taker buy/sell ratio is stabilizing, hinting at exhausted sellers and gradually strengthening buyers. Despite a 34.3% price decrease over the past year, technical indicators like a golden cross suggest a bullish trend reversal. However, machine learning algorithms predict a possible crash to $1,500, adding uncertainty. Currently, ETH is trading at $1,966, reflecting a recent 7.8% increase.