Ethereum Slides to $2,555 as Selling Hits, But Whale Buying Reaches 2017 Levels
Ethereum’s ETH fell to $2,555.77 on Tuesday, marking a 3.7% drop over 24 hours as markets reacted to a sharp rejection at $2,673. The decline followed several days of weakening momentum and heightened volatility, culminating in a sell-off that drove prices lower late Monday and carried over into Tuesday’s session.
Despite the pullback, blockchain data shows sustained interest from large holders. Analytics firm Glassnode reports that whale wallets have accumulated more than 800,000 ETH daily for nearly a week, pushing total holdings in the 1,000–10,000 ETH range to over 14.3 million ETH.
The most significant spike came on June 12, when whales added 871,000 ETH—the largest daily net inflow of 2025 so far. Glassnode noted that accumulation on this scale has not been seen since 2017, signaling strong conviction among major investors.
Analysts suggest this buying activity could be tied to positioning ahead of potential institutional developments or Ethereum-based ETF catalysts, even as ETH struggles technically in the short term.
ETH is currently holding above key support levels near $2,550, with traders watching closely for signs of a rebound or further losses.
Technical Summary
- ETH dropped 5.7% from $2,679.99 to $2,527.37 on June 16, with over 560,000 ETH in trading volume.
- Steepest selling hit during 22:00 UTC, breaking resistance at $2,650 and triggering downward momentum.
- ETH recovered modestly to consolidate near $2,540, with reduced volatility.
- In the last hour, ETH rose from $2,550.57 to $2,564.28, stabilizing around $2,553.40.
- A surge in trading at 13:30 UTC saw 12,200 ETH traded, leading to a short rally to $2,561.59.
- A pullback found support at $2,549.56, forming an ascending channel as buyers stepped in.
- $2,553–$2,555 emerged as a key consolidation zone during the rebound.
