Key Insights
- β’Strategic ETH reserves climbed to $22.52B after large holders added $2B in just one month.
- β’ETF holdings rise to $20.85B as institutional interest in Ethereum continues to build steadily.
- β’ETH tests 200-day moving average again, raising concerns over a possible 20% price pullback.
In the last 30 days, Ethereum (ETH) has seen an inflow of over $2 billion into strategic reserves, pushing the total held to 6.81 million ETH, worth around $22.52 billion. This growth comes without a rise in the number of participants, which remains steady at 67, suggesting that existing holders have increased their positions rather than new players entering the market.
At the same time, ETF holdings of Ethereum have grown to 6.31 million ETH, valued at approximately $20.85 billion. The purchase-to-issuance ratio stands at 6.8x, indicating that demand for ETH is much higher than the current supply. This trend reflects growing interest from large investors through structured investment channels.
Price Stalls Below Long-Term Resistance
Ethereum was facing price resistance around the 200-day moving average (MA200). The chart shows that ETH has failed to break above this line multiple times in recent months. After each rejection, the price droppedβonce by 27%, and another time by 21%.
Today, ETH is trading just under this same level. A similar pattern is beginning to form. If the trend continues, the market could see another pullback toward the $2,600 to $2,700 range. "Now ETH is rejecting the MA200 againβ¦ If history rhymes, another 20% reset isnβt off the table," one analyst posted earlier.
This moving average continues to act as a barrier. Whether the price breaks through or faces another rejection may shape what comes next in the market.
Key Support Zone Holds on Pullback
ETH has recently moved into a known support area between the 0.618 and 0.75 Fibonacci levels. This zone also lines up with a horizontal support region where price has previously bounced.
The market saw a sharp decline into this level, but the support held on the first test. Some traders expect a bounce from here, with possible targets near the recent highs around $3,440. The next few sessions may show whether this level leads to a recovery or if further downside follows.
βETH has tapped the golden 0.618 - 0.75 Fibonacci retracement level, perfectly coinciding with a major support zone,β one trader noted.
Current Market Snapshot
At the time of reporting, Ethereum was priced at $3,217.25, down 3.5% over the last 24 hours. Over the past week, ETH has gained 2.8%. Daily trading volume is around $30.8 billion, showing strong market activity.
Short-term movement remains tied to the key support and resistance levels now in play. Long-term holders appear to be adding to positions, while traders are closely watching for confirmation of the next direction.