Ethereum (ETH) may undergo a short-term pullback toward the 21-week EMA near $3,500 before resuming its rally, analysts say; a $1 billion whale buy and 286,000 ETH of spot ETF inflows add near-term upside risk for bulls.
Short-term pullback likely to 21-week EMA
Large whale purchases and staking total roughly $3.5B, supporting supply constraints.
Spot ETF inflows added ~286,000 ETH last week, per on-chain data providers.
Ethereum pullback possible as ETH nears 21-week EMA; whale buys $1B and spot ETF inflows add 286,000 ETH — read analysis and trading implications.
What is the likelihood of an Ethereum pullback to the 21-week EMA?
Ethereum pullback risk is currently elevated: chart analysis indicates ETH could retrace to the 21-week EMA, near $3,500, before resuming an uptrend. This view balances technical retracement patterns and strong spot ETF inflows that could limit downside.
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Benjamin Cowen, a market analyst with a large social following, has highlighted a recurring pattern since April where ETH retraces to the 21-week EMA then resumes upward momentum. He also cautions about a potential short-lived bull trap toward $4,900. These observations are based on historical EMA behavior and momentum indicators.
Large-scale purchases reduce liquid supply and can lift price if demand holds. A reported whale acquired roughly $1 billion of ETH and has accumulated a total of about $3.5 billion in purchased and staked ETH, tightening available market inventory and increasing potential upside if selling pressure remains low.
Spot ETF products added approximately 286,000 ETH last week, according to on-chain analytics providers. Such inflows represent material demand into exchange-traded products and can absorb exchange liquidity, supporting prices even amid technical retracements.
Short-term risk includes a retracement to the 21-week EMA around $3,500, but on-chain flows and concentrated staking may prevent deeper declines unless macro conditions deteriorate. Monitor EMA and spot ETF flows for confirmation.
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Source: https://en.coinotag.com/ethereum-could-see-short-term-pullback-to-21-week-ema-despite-1b-whale-buy-and-etf-inflows/