Ethereum Faces Resistance As Whales Offload $17.76M ETH

Ethereum whales sold 7,312 ETH valued at $17.76M and made a $4.49M profit in three hours.

ETH reduced 4% to about $2,443 as it experienced $158 million in leveraged liquidations and market anxiety.

Key resistance at $2,460–$2,580; breakout above $2,580 may trigger rally to $2,700–$2,780.

Ethereum whales have triggered waves across the market by unloading large ETH holdings. According to blockchain analytics firm Lookonchain, two significant wallets offloaded over 7,300 ETH in three hours. This strategic exit signals a potential shift in whale sentiment and raises concerns about Ethereum’s short-term price trajectory.

According to Lookonchain, on May 19, 2025, whale 0xD20E sold 4,718 ETH for $11.53 million and recorded $3.18 million in profits. At about the same time, wallet 0x9BDa sold 2,594 ETH valued at $6.23 million and earned an additional $1.31 million in realized profits.

Ethereum Struggles Near $2.4K Amid Whale Moves

These transaction, exceeding $17.76 million in ETH sales, have triggered trader debates about possible downward pressure on ETH prices. With ETH trading at about $2,443 per coin during these transactions, many started reconsidering their short-term approaches. Whale exits normally usher in additional market supply, and that is likely to exert short-term downward pressures on prices.

Ethereum’s price is now hovering barely above $2,400, representing a 4% decline over 24 hours. According to data from CoinGlass, more than $158 million in levered crypto positions were liquidated within 24 hours. This broad selloff puts more pressure on ETH’s continued volatility and makes it fertile ground for volatility traders.

Technical Breakdown and Key Levels Ahead

Technically, Ethereum struggled to surpass the $2,520 resistance, prompting a retreat. The price fell below crucial support areas of $2,500 and $2,440 and also at the 50% Fib retracement level from the $2,308-$2,509 zone. Support is still active at the $2,400 region.

ETH is now trading below its 100-hourly Simple Moving Average and is subject to short-term resistance at about $2,460. Should buyers recover the $2,500 level, the subsequent challenge will be the trend line at $2,550. Breaking above $2,580 might set ETH up for a quick rally to $2,700 or even to $2,780 in the short term.

Despite the recent sell-off, Ethereum remain within crucial trading range. Traders need to keep an eye on on-chain whale activity and resistance points closely. Any sustained breakout above $2,580 might reverse current attitudes and prime Ethereum for its next upward phase.