Ethereum Price Prediction: ETH Slips Below $2,900 After $145M Whale Move – Is $2,700 Next?
Ethereum is trading near $2,893, down modestly on the session as the market digests a rare on-chain event. A long-dormant Ethereum whale...
Quick overview
- Ethereum is currently trading at $2,893, following a significant transfer of 50,000 ETH by a long-dormant whale, raising market caution.
- The whale's transfer highlights the unrealized gains of early investors, as the wallet still holds approximately 85,283 ETH.
- Technically, Ethereum's price structure has weakened, with resistance at $3,050 and support levels at $2,810 and $2,717.
- The RSI indicates weak momentum, suggesting that selling pressure remains, making rallies vulnerable unless market conditions improve.
Ethereum is trading near $2,893, down modestly on the session as the market digests a rare on-chain event. A long-dormant Ethereum whale, inactive for nearly nine years, transferred 50,000 ETH worth roughly $145 mn to Gemini in two equal transactions. While there’s no confirmation of selling, the move has reignited short-term caution across the market.
The contrast is striking. When the wallet last moved funds in 2017, ether traded near $90, valuing the holdings close to $12 mn. Today’s transfer underscores the scale of unrealized gains still held by early Ethereum investors and why such activity often influences sentiment, even without direct liquidation.
Despite the transfer, the wallet still holds ~85,283 ETH, keeping it among the network’s largest individual addresses. Historically, large exchange transfers can signal selling, but they can also reflect custody restructuring or institutional security upgrades.
Ethereum Technical Picture Turns Fragile Below Key Levels
From a technical standpoint, Ethereum’s structure has weakened. On the 4-hour chart, price has slipped below the 50-EMA and is now testing the lower boundary of a rising channel that has guided price since late December. Recent candles near $2,880–$2,900 show longer lower wicks, suggesting dip-buying interest, but follow-through remains limited.
$ETH whale wakes up after 9 years
Moves $145M to Gemini
Still holding $244M worth of $ETH 👀 pic.twitter.com/8MLi4792VY— 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠𝐡𝐚𝐫 (@Karman_1s) January 26, 2026
The broader trend is capped by a descending trendline drawn from the $3,480 high. Ethereum failed to sustain momentum above $3,310, turning that zone into firm resistance. A clean break below channel support shifts focus toward $2,810, followed by $2,717, a level that previously attracted strong demand.
RSI is hovering near 40, signaling weak momentum without oversold conditions. This suggests selling pressure is controlled but persistent, keeping rallies vulnerable unless structure improves.
Key Levels Traders Are Watching
- Resistance: $3,050, then $3,182
- Support: $2,810, then $2,717
- Trend bias: Bearish below $3,050
- Momentum: RSI weak, not oversold
Trade idea: Sell rallies near $3,050, target $2,720, stop above $3,180.
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