Institutional Selling Spree
Recent on-chain data reveals a significant sell-off by institutional players, yet Ethereum (ETH) maintains its bullish momentum. Here’s a breakdown of the key developments:
- Metalpha’s ETH Dump: Over four days, Hong Kong-based asset manager Metalpha offloaded 33,589 ETH (worth **$77.55 million**) to Binance. Despite this, they retain **51,300 ETH** ($120 million) in holdings.
- Whale Activity Shift: Since early July, major Ethereum holders have shifted from accumulation to selling or redistributing ETH, signaling reduced institutional interest.
While sustained selling could trigger short-term volatility, ETH’s underlying strength suggests resilience.
Critical Price Levels to Watch
Technical analysis paints an optimistic picture for Ethereum:
- Key Support at $2,150**: ETH has historically rebounded by **23%+** from this level, with potential to surge toward **$2,700.
- Bullish RSI Divergence: The Relative Strength Index indicates upward momentum, reinforcing the support zone.
Pro Tip: A sustained hold above $2,150 is crucial for this bullish scenario to unfold.
Bullish On-Chain Signals
Chain metrics further validate the positive outlook:
- Long/Short Ratio: At +1.424, trader sentiment is the most bullish in a week.
- Open Interest: Futures OI rose 2.5%, reflecting increased long-position bets.
- Trader Positions: 58.75% of top ETH traders are long, dominating short positions (41.25%).
👉 Why Ethereum’s metrics hint at a major rally
Market Performance Snapshot
- Current Price: $2,350 (up 2.35% in 24 hours).
- Trading Volume: 14% increase, indicating heightened trader activity.
FAQs
Q: Will Ethereum drop below $2,000 due to institutional selling?
A: Unlikely. Strong support at $2,150 and bullish on-chain data suggest stability.
Q: What’s driving ETH’s recent price surge?
A: Market recovery, futures market optimism, and technical rebound patterns.
Q: Should I buy ETH now?
A: If ETH holds above $2,150, it’s a strategic entry point for potential gains.
👉 Expert insights on Ethereum’s next price target
Key Takeaways: Despite sell-offs, ETH’s technicals and fundamentals align for a bullish run. Monitor $2,150 support and trader sentiment for confirmation.
### SEO-Optimized Features
- **Keywords**: Ethereum, ETH price, institutional selling, bullish RSI, $2,150 support.
- **Structure**: Hierarchical headings, bullet points, and tables for readability.