Ethereum (ETH) continues to struggle to regain bullish momentum as buyers defend a critical support zone. Meanwhile, a large whale purchase and substantial exchange withdrawals highlight increased activity among major holders. However, a sustained recovery will require stronger buying pressure and confirmation of a bullish reversal.
As of now, according to CoinMarketCap data, Ethereum is trading at $2,228.97, down 0.04% over the past 24 hours and 1.2% over the past week.
ETH Price Tests $2,172–$2,205 Support Zone
Crypto analyst Aiden notes that Ethereum continues to struggle to regain bullish momentum, with its price action showing limited signs of a sustained recovery. The $2,172–$2,205 region has emerged as a critical support zone, where buyers need to step in to prevent further weakness and create an opportunity for an upward move.
Holding above this range could give bulls another opportunity to regain control and push ETH toward higher resistance levels. The first sign of improving market strength would come from reclaiming the $2,300 level. A sustained move above this threshold could help restore buying confidence and strengthen the short-term recovery outlook.
Meanwhile, $2,409 remains another major resistance level as Ethereum attempts to establish a stronger bullish structure. Until ETH reclaims these levels, the recovery outlook remains uncertain. A single positive daily or hourly candle is not enough to confirm a trend reversal, as sustained buying pressure and continued price strength are needed to support a broader upward move.
Ethereum Whales Buy and Withdraw $42M in ETH
Ethereum is attracting attention as on-chain data reveals fresh activity among large holders. According to Lookonchain, two wallets recently recorded substantial transactions, including a multimillion-dollar ETH purchase and a large withdrawal from Binance.
Wallet 0x32c6 spent 19.7 million USDT to purchase 8,773.5 ETH at approximately $2,245 per token. The transaction occurred around two hours before Lookonchain shared the update, highlighting fresh buying interest from a large investor.
Meanwhile, a newly identified wallet, 0x4AB7, withdrew 9,777 ETH, worth approximately $22.5 million, from Binance over five days. Large exchange withdrawals can indicate that investors are moving assets into private wallets rather than keeping them readily available for exchange trading. However, such transfers do not necessarily confirm long-term accumulation.
Together, the transactions account for approximately $42.2 million in Ethereum activity and highlight increased movement among large holders. While the first transaction reflects direct buying interest, the Binance withdrawal adds another notable development. Further whale activity will help determine whether the transactions are part of a broader accumulation trend.
