Key Insights:
- Ethereum price trades close to $3,337 as whales add nearly $582 million in ETH.
- Long-term holders’ net position stays negative, showing more coins are being sold than added.
- OBV and holder data suggest ETH needs stronger buying before any real rally begins.
Ethereum price has moved little, even after big wallets bought millions worth of ETH this week. Whales are clearly interested, but the market isn’t reacting yet.
The reason is simple: other groups are still selling. Both short-term and long-term holders have reduced their holdings.
Until that changes and the main buying signal turns positive again, the Ethereum price could stay stuck near its current level.
Ethereum Whales Are Buying, but Long-Term Holders Sell
ETH price trades close to $3,337, holding steady but weak. Whales have added nearly $582 million in ETH over the past two days, which normally pushes prices up.
Data from Lookonchain reveals that the whale buyers are mostly institutions, including Bitmine. But this time, long-term holders are selling more than they’re buying.
The holder net position change, which shows if old wallets are adding or reducing their Ethereum, is still negative. It fell from -56,223 ETH to -60,606 ETH in one day.
That means more coins are moving out of long-term wallets than going in.
These holders often sell to secure profits after long runs. And when they sell into whale buying, it cancels out the demand.
That’s why the Ethereum price isn’t reacting much despite the activity. The market needs these long-term investors to start adding again for a real push upward.
Short-Term Traders Are Also Stepping Away
Short-term holders, wallets that keep ETH for a few weeks, are also cutting their exposure. A month ago, they held around 8.79% of the total Ethereum supply. Now it’s down to 7.2%.
The chart highlights the most important short-term cohort, the 1-month to 3-month group. The HODL waves metric reveals how aggressively they have been dumping.
This drop means fewer quick buyers are willing to hold through small dips. So even if whales are buying, the selling pressure from both long-term and short-term wallets keeps prices flat.
Ethereum needs wider support from holders again.
When short-term wallets start building positions, buying pressure spreads across the market instead of sitting in a few big wallets. For now, that hasn’t happened yet.
Ethereum Price Is Still Holding, but Barely
ETH price is hovering around its $3,337 support line. If that breaks, the next area to watch is near $3,049.
On the other side, Ethereum price must rise above $3,514 to show real strength and aim for the $3,910 zone.
The On-Balance Volume (OBV), which tracks whether more trading volume is buying or selling, has been dropping since September 25.
That shows less money is flowing into ETH trades. If OBV starts moving higher again, it would mean fresh buying pressure is finally returning.
Yet, if it breaks the descending trendline, the price structure could break down, exposing $3,000 and lower levels.
Until then, Ethereum may keep bouncing in this range. Some days stronger, some weaker — but still waiting for a clear turn.
Whales are buying, but the Ethereum price needs more support from regular holders. Until long-term sellers stop reducing and trading volume turns higher, ETH may stay quiet near $3,300.
The next rally will likely begin only when that key metric turns green.