Ethereum Whales Offload 143,000 ETH In One Week – More Selling Ahead?

Ethereum is struggling around the $1,600 mark amid ongoing bearish pressure and failed attempts to rise. The cryptocurrency's downtrend structure remains intact despite brief recovery bounces. Macroeconomic uncertainties, particularly US-China tensions, continue to weigh on the crypto market. On-chain data reveals Ethereum whales have offloaded approximately 143,000 ETH recently. This distribution by large holders has intensified fears of further price declines. Ethereum needs to reclaim short-term resistance levels to avoid another potential leg down. Analysts warn of a continued slide toward lower demand levels without strong buying interest. The $1,850 resistance level is crucial for bulls to regain control, aligning with key moving averages. Failure to break above these indicators suggests persistent weakness and possible retesting of $1,500. The market sentiment remains fragile, with traders closely watching price action for signs of a shift.