Ethereum Price May Push Below $2,500 If This Happens

The crypto market saw fluctuations today, and in keeping with this mode, Ethereum price showed signs of stress. After two weeks of steady accumulation and strong ETF inflows, ETH threatened to push below the key level of $2.5K.

Recent whale activity was not able to lift market sentiment as ETF inflows slow down. Ethereum was trading at $2,531.5, at the time of writing, and was down from over $2,800 just days ago.

The sharp drop has triggered a wave of liquidations and a decline in market leverage, raising questions about the strength of the next support level at $2,500.

Whale Accumulation Continues Despite Falling Ethereum Price

Over the past two weeks, large Ethereum holders have accumulated approximately 166,199 ETH through over-the-counter (OTC) transactions, valued at around $435 million.

According to Arkham Intelligence, nearly 140,000 ETH has also left centralized exchanges during this period, suggesting rising on-chain accumulation.

The average purchase price for these transactions was $2,618 per ETH. Notable acquisitions include a major OTC deal on June 4, where 108,278 ETH worth $283 million was purchased.

Additional buys include 2,825 ETH on June 13 ($7.48 million) and 5,463 ETH on June 14 ($14 million), with the most recent buyer reportedly linked to ConsenSys.

Despite this activity, Ethereum price has dropped nearly 10% over the last week and currently trades at $2,531.5.

The continued whale accumulation appears to be a long-term strategy, as most of these purchases were made above the current price.

The buying trend persists even as the broader market shows signs of correction and selling pressure increases.

Ethereum ETFs See First Net Outflow After Long Streak

Spot Ethereum ETFs recorded net outflows of $2.1 million on Friday, ending a 19-day streak of consecutive inflows.

This shift comes after the ETFs accumulated $1.4 billion during the streak, signaling a possible change in investor sentiment.

Data from Farside Investors shows that Fidelity Ethereum ETF (FETH) led the outflows with $8.8 million, while the mini Grayscale Ether ETF saw $6.7 million in inflows.

All other U.S.-listed Ethereum ETF issuers reported no flows, resulting in the net outflow. Despite this daily dip, weekly inflows remain elevated.

Spot Ethereum ETFs brought in over $500 million last week, nearly five times the recent average. This suggests that while momentum has slowed, institutional interest continues to be present.

BlackRock’s iShares Ethereum Trust (ETHA), a leading Ethereum ETF, reported no inflows for the first time in 14 days.

Its net flows since inception remain at $5.2 billion, with 1.65 million ETH held. ETHA’s stock dropped nearly 7% on Friday amid selling pressure, closing under $20 during heightened geopolitical tension tied to the Iran-Israel conflict.

Ethereum Price Faces Pressure Near $2,520

According to TradingView data, Ethereum price is currently trading at $2,527.7, after opening at $2,538.7 in the latest 4-hour candle.

The price exhibits a bearish arrangement having declined sharply out of $2,800 making lower highs and lower lows.

On June 13, a bearish engulfing candle formed and initiated a strong selling pressure, and then the market consolidated around $2,520 -$2,530, which could be considered a possible support level.

MACD indications depict the MACD line at -19.6 and the signal line at -16.2, which is bearish in its crossover.

However, the bars of the histograms are becoming narrow, which is an indication that the selling strength may be lost.

RSI is at 38.15, still in bearish territory but with a little bullish divergence, indicating possible first signs of a stabilization process.

The area of support is at $2,520 and more support at $2,480. The levels of resistance are observed at $2,600 and at $2,720 2740.

The volume surged in the recent decline but has since subsided indicative of a tentative market. As long as the price is above $2,520, there might be a reversal; otherwise, a drop below might aim towards $2,400.