- Ethereum remains stuck near $1,880 as weak on-chain signals and continued retail selling limit its recovery.
- Whale accumulation and strong Ethereum ETF inflows offer some support, but ETH faces key resistance at $1,922 and $1,961.
Ethereum (ETH) remained stuck between $1,800 and $2,000 on Thursday as weak on-chain signals limited its recovery. ETH traded around $1,880 while retail wallets continued selling despite steady whale accumulation.
Ethereum On-Chain Data Shows Cautious Sentiment
Ethereum’s exchange netflow has turned mildly positive on its 14-day moving average. This suggests that more ETH has recently moved onto exchanges, which can signal rising selling pressure.
Exchange reserves also remained mostly flat over the past week. The figure rose slightly to 15.13 million ETH over the last two days.
The Coinbase Premium Index added to the cautious outlook. It fell to -0.081, showing weaker buying interest among US-based crypto investors.
However, institutional demand tells a different story. US spot Ethereum ETFs recorded $244.9 million in net inflows last week, according to SoSoValue data.
The ETFs have posted only $8.9 million in outflows so far this week. This shows a clear difference between institutional and crypto-native investor sentiment.
Retail Investors Continue to Sell ETH
Retail wallets have remained under selling pressure in recent months. Wallets holding between 100 and 10,000 ETH sold about 160,000 ETH over the past week.
This distribution pattern has continued since late April. It suggests that smaller and mid-sized holders remain cautious about Ethereum’s near-term outlook.
Whale wallets are taking the opposite approach. Addresses holding between 10,000 and 100,000 ETH accumulated roughly 100,000 ETH during the same period.
The difference between retail selling and whale accumulation could become important if demand improves. Reduced selling from retail holders could also help ETH stabilize at current levels.
ETH NUPL Signals Possible Bottom
Ethereum’s Net Unrealized Profit/Loss (NUPL) on Binance has fallen close to the -0.35 level.
CryptoQuant analyst MorenoDV noted that similar readings appeared around several major market lows. These included the late-2019 and March 2020 lows, the 2022 bottoming phases and the 2025 correction.
The reading suggests that heavy losses may have already forced some investors to sell. If selling pressure continues to weaken, Ethereum could see renewed demand at lower prices.
Ethereum Price Forecast
ETH is trading near $1,880 and remains inside a tight technical range. The price is slightly above the 20-day and 50-day exponential moving averages at $1,884 and $1,865. The Relative Strength Index sits near 52. This points to a balanced market rather than strong buying pressure.
The first major resistance sits at the 100-day EMA near $1,922. A breakout above this level could open the way toward $1,961.
A stronger move above $1,961 could expose higher resistance around $2,172 and $2,431. On the downside, the 20-day and 50-day EMAs provide initial support. The key floor sits near $1,809.
If ETH breaks below $1,809, the next support levels could appear around $1,701 and $1,507. For now, Ethereum remains trapped between weak on-chain signals and signs of growing institutional interest.
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