{"id":7830,"date":"2025-05-29T10:38:00","date_gmt":"2025-05-29T09:38:00","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=7830"},"modified":"2025-05-29T10:24:59","modified_gmt":"2025-05-29T09:24:59","slug":"ethereum-4000-whale-selloff","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/ethereum-4000-whale-selloff\/","title":{"rendered":"Can Ethereum Reach $4,000 Despite Massive Whale Sell-Off ?"},"content":{"rendered":"\n

Whales Exodus and Decrease in Social Traction<\/h2>\n\n\n\n

On-chain data shows that Ethereum<\/a> whales<\/strong> have started disengaging, selling the equivalent of $530 million<\/strong> in tokens. Their wallet has decreased from 103.74 million ETH<\/strong> on May 24 to 103.52 million<\/strong> today, representing a drop of 200,000 tokens.<\/p>\n\n\n

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\"Ethereum
Source: Santiment<\/figcaption><\/figure>\n<\/div>\n\n\n

This massive sell-off coincides with a decrease in social volume<\/strong> surrounding Ethereum<\/strong>. Dropping from a peak of 3,060 earlier this month, ETH’s social volume now stands at only 476, suggesting that traders<\/a> are less active in discussions on major platforms like Telegram or X. High social activity often signals an impending price surge.<\/p>\n\n\n\n

Beyond whale behavior and social traction, the Ethereum<\/a> network faces other challenges. Recent data from growthepie reveals that the number of active addresses on Ethereum’s Layer 1 and 2 was only 415,000 on Tuesday<\/strong>, significantly lower than Base’s 1.93 million or Celo’s 486,000.<\/p>\n\n\n\n

Furthermore, the amounts paid to Ethereum by these Layer 2 networks have plummeted. Base, for example, only disbursed $112,000<\/strong> in the last 30 days, marking a 57% decline<\/strong>. Arbitrum One and Optimism paid $39,000 and $13,000<\/strong>, respectively, both experiencing double-digit decreases.<\/p>\n\n\n\n

Ethereum Technical Analysis : $3000 or a 30% Drop ?<\/h2>\n\n\n\n

Technically<\/a>, Ethereum’s daily chart shows that the price has stagnated in recent weeks after repeatedly testing a critical resistance level at $2,722,<\/strong> which is the 50% Fibonacci retracement point.<\/p>\n\n\n

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\"Ethereum<\/figure>\n<\/div>\n\n\n

However, Ethereum has formed a bullish pattern by rising above its 200-day moving average last night, reaching a peak of $2,780.<\/strong><\/p>\n\n\n\n

Currently at $2,727,<\/strong> ETH is holding above this moving average. If it can sustain this, it could potentially target the upper end of the Mean Reversion Channel at $3,030<\/strong> in the coming days.<\/p>\n\n\n\n

A breakthrough at this level would increase the chances of a rally towards $4,000<\/strong>, a significant psychological threshold. Conversely, a drop below $2,333<\/strong> would invalidate the bullish perspective.<\/p>\n\n\n\n

The Volume Profile indicates a POC at $2,550.<\/strong> But below $2,300,<\/strong> there’s a freeway for a cascading drop in ETH’s price. Therefore, caution is warranted in the upcoming days as ETH prepares for a strong move<\/strong> in either direction.<\/p>\n\n\n\n

In conclusion, despite Ethereum’s price currently being capped under $3,000,<\/strong> facing significant whale sell-offs and network challenges, the overall technical indicators remain positive. If the price can surpass the $3,000 resistance, it could then soar towards $4,000<\/strong>, a level that now seems within reach for the second most significant cryptocurrency.<\/p>\n\n\n\n

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Buy ETH on Bitget now !<\/a><\/div>\n<\/div>\n\n\n\n

More on this topic :<\/strong><\/p>\n\n\n\n