Ethereum’s price slipped slightly over the past 24 hours, falling by less than 1%. At first glance, the market looks calm. But new data shows a clear split between large investors and retail traders.
While retail demand has slowed, Ethereum whales have added more than $350 million worth of ETH in a short period. This buying activity suggests that large holders expect a possible price move ahead.
Retail Demand Weakens
Between December 18 and December 24, Ethereum’s price moved higher. Normally, this signals growing demand. However, the Money Flow Index (MFI), which tracks buying and selling pressure, failed to confirm the move. Instead, it formed a lower low.
This pattern suggests that retail traders did not strongly support the recent price rise. Analysts say the MFI needs to move above 37 to show renewed retail interest.
Whales Increase Holdings
While retail activity slowed, large holders moved in. On‑chain data shows that wallets holding large amounts of ETH increased their combined holdings from 100.48 million ETH to 100.6 million ETH since December 26.
At current prices, this increase equals about $350 million. Analysts note that whales usually buy when they see a longer‑term setup, not for quick trades.
A Key Indicator Favors Whales
The Relative Strength Index (RSI) is showing a bullish signal. Between early November and late December, Ethereum’s price made a lower low, but the RSI made a higher low.
This pattern is called a bullish divergence. It suggests selling pressure is weakening, even if the price has not yet moved higher. Such signals often support trend reversals, which may explain the recent whale buying.
Key Price Levels to Watch
Ethereum must first reclaim $3,050, which acts as short‑term resistance. If the price moves higher, the next key level is $3,390.
A clear break above $3,390 could trigger a bullish pattern known as an inverse head and shoulders, with a possible target near $4,400.
On the downside, a drop below $2,800 would weaken the bullish outlook. If the price falls further to $2,620, the reversal setup would no longer hold.
For now, the market waits to see whether whale confidence or retail hesitation will shape Ethereum’s next move.
