Ethereum is struggling to recover as large holders sold roughly 380,000 ETH worth about $800 million over the past seven days, adding pressure to a market already trapped in a prolonged consolidation phase.
The sustained selling from whale-tier wallets suggests influential investors are reducing exposure amid uncertainty about Ethereum’s short-term recovery prospects.
Market indicators show the MVRV Long/Short Difference deep in negative territory, signalling that short-term holders currently dominate profits and limiting the likelihood of a sustained price rebound.
Blockchain data indicates much of the selling accelerated after a brief price rise last week, suggesting whales used the rally as an opportunity to exit positions rather than accumulate further holdings.
Short-term holders are also contributing to market fragility because their tendency to take profits quickly increases the risk of sudden sell-offs whenever Ethereum attempts to move higher.
Ethereum is currently trading around $2,089 and has remained rangebound between resistance near $2,158 and support at roughly $1,917 for almost a month as buyers and sellers remain in equilibrium.
If selling pressure intensifies Ethereum could retest support at $1,917 and potentially fall toward $1,840, although a break above $2,158 could shift momentum and open the path toward approximately $2,348.
At the time of reporting, Ethereum price was $2,189.27.