Ethereum price holds at $1,600 as whales buy the dip

Ethereum traded around $1,655 on June 25, after falling below $1,600 in the recent market selloff, according to price data from crypto.news.

$ETH The stock fell about 0.93% in 24 hours and 4.63% in 7 days, with trading volume of nearly $15.42 billion.

The token fluctuated between $1,557.87 and $1,677.86 during the session. The market value reached nearly $199.55 billion, $ETH Ranked 2nd in market capitalization. The bounce took the pressure off, but $ETH It is still trading below its recent recovery zone around $1,800.

Ethereum’s daily chart still shows a broader downtrend from the $2,300-$2,400 zone to the current $1,600-$1,700 range. Bulls need a clean move above $1,800 before the structure improves.

Ethereum recently tumbled around $1,670 as traders became wary due to ETF outflows, falling RSI, and falling open interest. The report lists $1,750 and $1,800 as near-term resistance zones, but $1,580 remains an area to watch if sellers return.

Ethereum ETF outflows weigh on demand

Spot Ethereum ETF remains a pressure point $ETH price. According to SoSoValue data, on June 24th, the product recorded net outflows of $30.24 million, marking the fifth consecutive day of outflows. Fidelity’s FETH led the day’s outflows, with $15,689,700 out of the fund.

The latest ETF data comes after a massive outflow session the previous day. As reported by crypto.news, the US spot $ETH The ETF recorded net outflows of $82,351,000 on June 23. The outflow pressure was as follows. $ETH Short-term resistance could not be maintained.

ETF flows indicate whether regulated demand is adding support or reducing exposure. If the fund continues to lose assets during the decline, spot buyers will have to absorb more selling before a recovery forms.

Flow data does not mean that all institutional demand has disappeared. This shows that demand remains uneven. Sentiment will likely improve once stable ETF inflows return. $ETH I haven’t seen that confirmation yet.

Ethereum whale movement sends mixed signals

Large wallet activity also indicates market fragmentation. According to Lookonchain, 17,675 was withdrawn from the newly created wallet. $ETHworth approximately $28.58 million from Binance. Trackers described the move as a “huge buy” for the whale.

At the same time, Onchain Lens announced that the dormant whale known as 0x096 sold 27,585 units $ETH 44.84 million in USDS, the average price is nearly $1,625. The wallet had been inactive for seven years, but still had an estimated $39.1 million in profits locked away.

Leverage also increased stress. On-chain lenses said the gusset was fully liquidated at 25x $ETH I took a long position, lost $1.9 million, and then opened another 25x long position. His total losses exceeded $35.4 million.

Through such activities, $ETH It moves more sharply near the key support. Whale purchases may help the market, but the sale or forced liquidation of dormant wallets could dampen confidence. This will remain $ETH They are caught between accumulation, profit taking, and high-risk leverage.

Indicators remain focused on $1,800

Technical indicators still point to a weak recovery. The RSI was around 38.34, slightly below the moving average of 38.79. This number is below the neutral 50 level, and buyers have not regained clear control after the recent rally.

The Aroon Oscillator is at -64.29, indicating continued bearish pressure. A negative value means that recent lows are still more dominant than recent highs. It supports the view that $ETH It’s stabilizing, but it hasn’t reversed yet.

Based on the chart context provided, the MACD picture looks slightly better. The histogram turned slightly positive and the MACD line moved above the signal line. However, both lines are still below zero, so we need to see a broader trend.

CryptoQuant analyst CryptoOnchain said Ethereum is in a defensive position near $1,600. The model reduced market exposure to 15%, but said the probability of a bullish turnaround rose to 45%. The analyst said that Binance’s stablecoin reserves and net flows have entered neutral territory.

Analysts are divided on its next move. CrediBULL crypto said: $ETH/BTC is “still settling in the HTF buy zone” and is waiting for a base on the lower time frame. kryptotony said $ETH/USD may be forming a triangle, which could indicate a multi-week price movement.

For now, $ETH Above $1,700 and even above $1,800, stronger follow-through is required. If RSI moves above 50 and Aroon readings improve and we break above that zone, it will support a stronger recovery. If these levels are not regained, they may be maintained $ETH It could be exposed to another test near $1,580.