Ethereum Whale Dumps $300M ETH Amid Panic Selling

Key Insights

• Ethereum price traded around $4,232, down less than 1% on the day.
• Whale selling added to bearish momentum.
• Analysts said $4,000 support could face another test.

Ethereum price fell after it failed to hold above $4,700. At press time, the ETH price traded near $4,201, down about 0.4% over the past 24 hours.

The token lost 9% over the week but gained 11% in the past month. Analysts said the pullback reflected increased selling pressure as whales took profits. The $4,000 level remained the most important area to watch for support.

Ethereum Price Struggled to Hold Gains

The daily chart showed that the Ethereum price lost momentum after surpassing $4,700. It pulled back toward the low $4,200s and hovered near an ascending trendline that had held for weeks.

Analysts said the next key test sat near $4,000, where heavy buying had previously supported rebounds.

The Stochastic Relative Strength Index (RSI) was around 36 at the time of writing, suggesting weaker buying interest. An RSI below 50 often signaled declining momentum.

Resistance formed near $4,800, while support held close to $4,000. If support broke, the trendline could fail and trigger deeper losses.

Analysts noted that the overall trend stayed intact but warned that the proximity of the support zone increased the risk of a breakdown.

The ETH price had potential to revisit the $5,000 range if support remained strong, but weak demand limited the odds of a swift recovery.

Whale Profit-taking Pressured ETH Price

Data shared on X by Lookonchain highlighted whale exits that influenced recent market action. A veteran trader closed 66,749 ETH long contracts worth about $303 million, securing a profit of $6.86 million. The trade marked the end of a long-term position.

Another large swing trader sold 2,277 ETH, valued at about $9.6 million, at $4,203. Despite slippage, the seller gained about $4 million. These moves reflected aggressive profit-taking, which increased bearish pressure on Ethereum price.

CryptoQuant reported that Spot Taker Cumulative Volume Delta (CVD), a measure of net aggressive buying versus selling, showed sellers had controlled the past sessions. Analysts said this confirmed that sell orders outweighed buy orders, aligning with the downturn.

Retail traders had not offset the exits from large holders. Analysts pointed out that institutional activity could later counterbalance the effect, but such demand was not visible at press time.

The immediate picture remained one of synchronized selling that weighed on sentiment.

Outlook for Ethereum Price in Coming Weeks

Market observers said the $4,000 area was the decisive level to watch. The Ethereum price needed to hold above that support to avoid deeper downside. A break below it could signal a broader correction, while stability above it could create room for a recovery toward $5,000.

The trendline remained in place, but its closeness to support made it fragile. If buyers stepped in near $4,000, the setup could favor consolidation before another attempt higher. If they failed, bears could extend control.

At press time, momentum indicators showed limited strength, whale selling dominated order books, and retail demand was subdued.

The next sessions were set to test whether $4,000 could withstand mounting pressure and serve as a foundation for recovery.