Whales Dumped 550K ETH Like It Was Hot 🥔 — Ethereum Still Standing at $1,560

Large Ethereum ($ETH) holders reduced their positions by roughly 550,000 ETH, valued at nearly $880 million, over the past week, according to on-chain data reviewed by analysts. The scale of the distribution reflected growing caution among major market participants and increased the supply available on the market. As a result, Ethereum slipped toward the $1,560 support area highlighted on the daily chart, following its failure earlier this month to reclaim higher resistance levels.

The decline aligned with weakening market structure, as each recovery attempt encountered renewed selling pressure rather than attracting aggressive follow-through buying. Spot Taker CVD presented a different picture from the whale activity, with Taker Buy Dominant indicating that market buyers had regained control of executed spot orders despite the sizeable distribution from large holders. The shift suggested that retail participants and smaller investors absorbed part of the additional supply entering the market, with buying interest strengthening near support rather than disappearing after the decline.

Ethereum revisited the $1,560 demand zone after completing a sharp decline from the $2,000 resistance region, and the daily chart showed buyers responding each time price approached that area, preventing another immediate breakdown. At press time, the RSI remained below the neutral 50 level and printed around 33, indicating that bullish strength had not fully recovered, though the indicator stayed above its recent low, suggesting selling pressure had eased compared with the earlier collapse.

Price continued forming higher rebounds from support, although it still traded beneath the major resistance levels at $1,800 and $2,000. The Binance ETH/USDT Liquidation Heatmap showed the largest concentration of liquidity sitting around the $1,590–$1,600 region, representing the closest obstacle above the current market price and highlighting where volatility could increase if Ethereum continued recovering. Clearing the $1,590–$1,600 cluster could trigger additional short liquidations and encourage price to challenge the next resistance levels.