Ethereum Price Prediction: Oversold Signals Conflict With Whale Pressure
TLDR
- Whale selling near $2,400 continues to restrict Ethereum’s short-term recovery efforts.
- The daily RSI is severely oversold, suggesting weakening downward momentum.
- ETH trades near $2,350, reflecting consolidation rather than clear buying accumulation.
- Support in the low-$2,200 range is crucial to avoid a more pronounced correction.
Ethereum (ETH) remains under strain as price activity stabilizes near the $2,350 zone after a steep sell-off. Multiple charts now depict a market caught between whale-driven supply and oversold momentum indicators. These factors point to short-term volatility, with $2,400 and the low-$2,200s emerging as pivotal levels.
Whale Distribution Limits Ethereum Price Near Key Resistance
According to analyst Ted, Ethereum’s price continues to trade around $2,350, a zone serving as a short-term balance point. The ETH price remains trapped between overhead resistance and nearby demand zones, indicating hesitation rather than accumulation. This setup keeps Ethereum’s price inclined toward consolidation or a continued downward trend.
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Ted emphasized persistent whale selling as a primary constraint on recovery attempts. Large holders appear to be offloading during minor rebounds, particularly near the $2,400 resistance zone. These repeated rejections show that supply remains active and continues to absorb short-term buying interest.
Structurally, $2,400 remains the key level. Until Ethereum can regain and hold above this level, upward moves are seen as corrective. Failing to breach this barrier keeps downside risks in play, especially if broader market sentiment weakens further.
Ethereum Price Displays Oversold Momentum on Daily RSI
Meanwhile, analyst Crypto Rover focused on momentum rather than structure. The analysis reveals Ethereum’s daily RSI dropping into heavily oversold territory. Historically, similar conditions have preceded…, suggesting selling pressure may be nearing exhaustion.
Additionally, past extremes marked levels where buyers eventually stepped in, even amid broader downtrends. This pattern suggests that downward momentum is easing, though it does not guarantee a sustained reversal. Ethereum’s price may stabilize or see a modest bounce before facing renewed resistance.
However, oversold signals alone are insufficient to confirm a trend change. The analyst noted that Ethereum’s price must still reclaim key technical levels to validate any recovery. Without structural follow-through, oversold conditions can persist longer than anticipated in bearish environments.
Daily Support Holds as Ethereum Price Seeks Stability
Additionally, analyst CRYPTOWZRD highlighted Ethereum’s daily market structure following a volatile decline. Despite strong selling pressure, ETH recorded a bullish daily close. This signals short-term buyer responsiveness at key levels.
Technically, Ethereum remains below a major descending trendline and well beneath resistance near $4,250. This maintains the broader corrective bias. However, the price is approaching a historically significant support band between the low-$2,200s and $2,100s.
Maintaining this zone is critical to avoid a deeper correction toward lower macro supports. CRYPTOWZRD suggested that continued higher lows on shorter timeframes could support a short-term recovery attempt. Still, without strong volume and resistance reclamation, the move would reflect stabilization rather than a trend reversal.