First whales are unloading 230,000 ETH, yet bulls refuse to let price slip far below $3,000. Now charts hint at an inverse head-and-shoulders pattern that could decide whether Ethereum breaks down or launches higher. Ethereum Whales Dump 230,000 ETH as Holdings Tighten
Ethereum whales sold about 230,000 ETH over the past week, according to new on-chain data from Santiment. The chart shared by analyst Ali shows a clear decline in balances held by addresses with 1,000 to 10,000 ETH, highlighting a notable shift in behavior among large holders.
Ethereum Whale Selling 230,000 ETH. Source: Santiment / X
The selling pressure accelerated as Ethereum struggled to gain momentum. Moreover, the data reveals that whale wallets continued to trim positions even during periods of short-term price relief. This trend adds fresh weight to concerns about weakening confidence among major market participants.
At the same time, the broader market has stayed sensitive to whale flows. Large-holder activity often functions as an early signal for liquidity changes, and these weekly outflows reinforce that caution may be spreading. In addition, the decline in whale holdings comes while traders monitor how ETFs, staking flows, and liquidity conditions shape Ethereum’s next move.
Still, the latest drop in balances does not automatically signal a structural shift. Instead, it reflects how whales often reposition during periods of uncertainty.
Ethereum Bulls Defend $3,000 Support as Trader Eyes Dip Buys
Ethereum bulls are holding the $3,000 support zone, with price repeatedly bouncing from the level on the daily chart. The latest structure shows buyers stepping in each time ETH approaches the round-number area, signaling that it remains a key line in the sand for spot demand.
Ethereum 3000 Support. Source: JamesEastonUK
At the same time, trader JamesEastonUK noted that he has limit orders resting below the current market, positioning for a deeper dip while recognizing the ongoing strength at $3,000. His comment reflects how some market participants prefer to wait for potential liquidity sweeps before adding exposure.
Even so, the chart highlights that the support band around $3,000 continues to attract buyers for now. As ETH trades above a wider demand area between roughly $2,600 and $2,800, analysts are watching whether this cluster of levels can mark a medium-term base or whether renewed selling will push price into the lower zone where resting bids sit.
Meanwhile, Ethereum Shows Potential Inverse Head and Shoulders Pattern
Meanwhile, Ethereum is forming a possible inverse head and shoulders pattern, according to a new chart shared by analyst Pepe Onlyfrens. The structure highlights a clear left shoulder, head and right shoulder forming across the recent daily candles, signaling an attempt to build a medium-term bottom.
Ethereum Inverse Head And Shoulders. Source: Pepe Onlyfrens
At the same time, the neckline sits above the $3,000 area, where ETH has already shown repeated support. If buyers push price through that neckline with strong momentum, the pattern would confirm and open the path toward higher targets outlined in the chart.
Furthermore, the projection shows a potential move toward the broader resistance zone between roughly $10,000 and $14,000, which marks the upper boundary of the long-term wave count. While no confirmation has occurred yet, the pattern continues to attract attention as ETH tests key levels that often precede trend reversals.
