Ethereum Holds Ground as Whales Exit — Can Momentum Sustain?

Market Context

Whale activity often signals shifts in supply dynamics and sentiment. When large holders begin to exit, the risk of downward pressure rises. But if those sales are absorbed without price damage, it suggests market strength. ETH is treading a fine line now—maintaining momentum while balancing outflows from whales and liquidity from smaller participants.

Technical Details with Attribution

• Selloffs by Whales: Trend Research has initiated a second wave of ETH liquidations, moving 102,355 ETH worth about $455M. 
• On October 5 alone, about 41,421 ETH (~$189M) was sold, according to EmberCN. 
• Exchange Netflow has been positive for two days, with 81,700 ETH inflows—indicating increased selling pressure onto exchanges. 
• Despite this, ETH continues to trade within an ascending channel—from its low near $3,800 to recent highs around $4,619. 
• Momentum metrics are picking up: the Directional Movement Index (DMI) rose from ~20 to ~28, and the Relative Vigor Index (RVGI) is in favorable territory (~0.22), supporting the possibility of upward continuation. 
• Support / Resistance Levels: If bulls defend well, ETH could target $4,673, then $4,800. On the downside, key supports lie at $4,415 and $4,248. 

Analyst Perspectives 

Analysts note that while whale exits are concerning, the resilience of ETH’s price suggests that many whales may be selectively taking profits rather than capitulating. If buyer interest continues and macro tailwinds align, the uptrend could persist. However, a failure to absorb future sell waves—especially near $4,800 resistance—could prompt a retracement toward support zones.

Global Impact Note

Ethereum’s ability to withstand sizeable sell pressure strengthens its narrative as a robust digital asset. Coordinated whale selling and absorption dynamics influence sentiment across global crypto markets. If ETH holds firm, it can inspire confidence across altcoins and DeFi ecosystems worldwide.