 ▲ Ethereum (ETH) |
Ethereum (ETH) has reclaimed the $2,000 level, reigniting hopes of a rebound, but uncertainty over its future direction is intensifying amid erratic trading patterns by large investors and signs of distribution by long-term holders.
According to cryptocurrency-focused media outlet BeInCrypto on February 15, Ethereum recently recaptured the $2,000 mark and is showing signs of recovery, but it lacks the strong buying momentum needed to sustain further gains. The outlet analyzed that conflicting signals from key market players—whale investors and long-term holders—are keeping the price trapped within a range rather than driving it decisively in one direction.
On-chain data shows that large whales holding between 100,000 ETH and 1 million ETH sold approximately 1.3 million ETH, worth $2.7 billion, between February 9 and February 12. However, the same group repurchased 1.25 million ETH within the following 48 hours, reinvesting about $2.6 billion, repeatedly engaging in large-scale trades without a clear directional bias. Crypto analytics firm Santiment noted that while such short-term repetitive trading provides market liquidity, it has limitations in generating a definitive price rally.
A shift in sentiment among long-term holders is also casting a shadow over Ethereum’s outlook. Those who had steadily accumulated Ethereum since late December last year halted their buying in early February and began gradually distributing their holdings. Although the selling pressure is not aggressive, the fact that previously confident investors are beginning to show uncertainty is adding to market anxiety.
From a technical perspective, Ethereum is currently trading around $2,087 and attempting to break through the key resistance level at $2,241. If whales and long-term holders return to accumulation, the price could surpass $2,395 and potentially rise to $2,500. Conversely, if the support level at $1,902 collapses, downside pressure may intensify, warranting a cautious approach from investors.
Experts say that for Ethereum to enter a genuine bull market, dominant investor groups must demonstrate a consistent buying bias. For now, the most likely scenario is continued consolidation around the $2,000 level as the market tests support. Until capital flows become clearer, maintaining a defensive portfolio strategy in preparation for volatility is advised.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. The publisher is not responsible for any investment losses incurred based on this content.