In brief
- •Trend Research has sold 102,355 ETH since October 1st, amounting to $455 million.
- •On October 5th, this whale sold 41,421 ETH in a single day, for $189 million.
- •Despite these sales, Ethereum holds at $4,590 with a 2.03 % increase over 24 hours.
- •Retail traders are also adopting a risk‑reduction strategy in the futures market.
Ethereum faces whale pressure
Since the market rebound, Ethereum has struggled to truly soar. Whales have chosen to massively liquidate their positions.
Trend Research launched a second particularly marked wave of sales as early as October 1st. CryptoQuant data confirms this offensive: the average order size has significantly increased, with four consecutive days of massive transactions.
This dynamic is reflected in the numbers. The net Ethereum exchange flow recorded 81,700 ETH inflows, indicating intense spot selling activity. Historically, when leading players like Trend Research unload their holdings, it is often a sign of a lack of conviction regarding the immediate market trajectory.
Retail investors are also not showing more confidence. In the futures market, small traders have dominated the selling side for two days. The CryptoQuant CVD indicator highlights a “dominance of seller takers,” shown in red. In short, many retail traders are closing their positions, preferring to reduce their exposure.
This concerted movement – aggressive whale sales on one hand, cautious disengagement by retail on the other – reflects a latent bearish trend. More than just a technical correction, this attitude reveals a distrust regarding Ethereum’s ability to continue rising immediately.
An unexpected resistance that intrigues analysts
Despite an unfavorable context, Ethereum continues to defy bearish expectations. The asset still trades within an ascending channel, initiated from its low at $3,800, and even reached a recent high of $4,619. This resistance ability shows that the market effectively absorbs selling pressure without panicking.
Technical signals support this positive reading. The Directional Movement Index (DMI) rose from 20 to 28, proof of a marked resumption of bullish momentum. At the same time, the Relative Vigor Index (RVGI) rose to 0.22, confirming this constructive trend. Such levels often indicate potential continuation if the current conditions hold.
In this scenario, Ethereum could first target $4,673 before testing the key resistance at $4,800. A clear break of this psychological threshold would open the way to $5,000, a symbolic level with few technical barriers above. Conversely, if whale selling pressure regains the upper hand, a pullback to $4,415 would remain likely, with strategic support at $4,248.
The tug of war between buyers and sellers is now reaching its peak. The real test will be whether the price of Ether can withstand massive selling pressure and maintain its upward momentum. The coming days will be decisive in determining if this resilience is just a reprieve or the prelude to a new bullish rally.