The Ethereum price is showing signs of stabilization as large investors accumulate significant amounts of ETH from major cryptocurrency exchanges.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to blockchain analytics shared by Lookonchain<\/a>, a newly created wallet withdrew 11,629 Ethereum (ETH<\/a>) worth about $23.7 million from Binance over the past two days.<\/p>\n In a separate transaction, another whale wallet identified as 0x8E34 removed 63,324 ETH valued at roughly $131.2 million from Kraken during the same period.<\/p>\n Large withdrawals from exchanges are often interpreted as a bullish signal<\/a> because investors typically move assets to private wallets for long-term holding rather than immediate selling.<\/p>\n The combined withdrawals<\/a> total more than 74,000 ETH, suggesting that institutional or high-net-worth investors may be positioning ahead of a potential price move.<\/p>\n <\/p>\n Based on the ETH\/USDT daily chart, Ethereum is currently trading around $2,050, remaining largely range-bound after<\/a> a sharp correction earlier in February.<\/p>\n The chart shows that ETH has been consolidating between $1,950 and $2,150 for several weeks, forming a sideways structure after rebounding from lows near $1,800.<\/p>\n The immediate resistance level sits around $2,150\u2013$2,200. A decisive breakout above this zone could trigger momentum toward the $2,400 level, where the previous sell-off accelerated.<\/p>\n On the downside, strong support appears near $1,950, with deeper structural support around $1,800, which marked the February bottom.<\/p>\n The Relative Strength Index (RSI) is currently near 50, reflecting neutral momentum and suggesting the asset is neither overbought nor oversold. This reading typically occurs during consolidation phases before a larger directional move.<\/p>\n Meanwhile, the Accumulation\/Distribution indicator is stabilizing after a sharp drop earlier in the month, hinting that buying pressure may be gradually returning.<\/p>\n The recent whale withdrawals could tighten exchange supply if the coins remain off trading platforms. When combined with Ethereum\u2019s current consolidation pattern, such accumulation phases<\/a> often precede stronger price movements.<\/p>\n However, traders will likely watch for a break above $2,200 to confirm a bullish continuation. Until then, Ethereum may remain trapped within its current range as the market waits for a decisive catalyst.<\/p>\n <\/p><\/div>\n\n
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<\/figure>\nEthereum price analysis<\/h2>\n
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