Ethereum is maintaining its key support level at $1,780, with market participants closely monitoring potential moves toward the $2,200 to $2,400 range. Analysts suggest that the near-term tre
Ethereum is maintaining its key support level at $1,780, with market participants closely monitoring potential moves toward the $2,200 to $2,400 range. Analysts suggest that the near-term trend remains upward as long as this support holds, despite the presence of ongoing selling risk from large wallet activity.
Michaël van de Poppe, a widely followed crypto analyst, stated that Ethereum’s price structure has shifted into an upward trend on lower time frames. He indicated that previous resistance levels are now acting as support, reinforcing the bullish outlook if $1,780 remains firm.
Ethereum is entering a new upward phase, flipping previous resistance areas into support. If $1,780 continues to hold, the next upside target sits between $2,200 and $2,400.
Van de Poppe predicted that the probability of Ethereum rising above $2,000 is increasing as market sentiment improves. The strength at $1,780 is considered critical for ETH’s current short-term structure.
Should this level show weakness, analysts may re-evaluate potential downside risk. However, as of now, the focus remains on the possibility of a renewed breakout toward higher price zones.
Crypto Patel, another cryptocurrency market analyst, commented that Ethereum whales are not signaling widespread capitulation. While large wallet profits have reduced as the market adjusted, he noted that the majority of these major holders remain in a profitable position.
Ethereum whales are not capitulating, but the risk of renewed selling persists as whale profits diminish and sizeable amounts of ETH are deposited to Binance.
This scenario, according to Patel, leaves room for both selling and support from whales, depending on their appetite for risk and market conditions. The willingness of large holders to either liquidate or accumulate could significantly shape short-term price action.
Patel highlighted the importance of tracking capital flows and large wallet moves. Changes in whale behavior, including deposits and stablecoin balances, may help predict whether demand supports a further rally or selling pressure undermines support.
Elevated ETH deposits on Binance remain a point of concern for some traders, as they indicate more supply could be available to sell in the event of increased volatility. This trend introduces additional uncertainty and prompts closer scrutiny of exchange-related data.
Patel observed that whales have kept significant reserves in USDT and USDC, two of the leading stablecoins. Large stablecoin balances enable swift reactions to price developments, allowing these entities to buy ETH if bullish momentum arises, or sell into weakness if sentiment sours.
The current market balance hinges on whether the $1,780 level can withstand further pressure. A decisive move above this support could trigger renewed buying activity, with $2,200 to $2,400 emerging as the next target area. On the other hand, higher exchange deposits serve as a caution for traders tracking possible surges in supply.
Mini dictionary: Binance, a major global cryptocurrency exchange platform, is often used by the largest ETH holders, or “whales,” to facilitate substantial deposits and trades that can influence the market. USDT (Tether) and USDC (USD Coin) are two prominent stablecoins, frequently used as a store of value or to quickly enter and exit positions within the crypto market.
Support LevelResistance TargetsWhale ActivityMain Risk$1,780$2,200–$2,400Elevated Binance depositsHigh USDT, USDC balancesPotential selling from large holdersThe post Ethereum holds $1,780 support, eyes $2,200–$2,400 as whale Binance deposits rise appeared first on COINTURK NEWS.
