TLDR: Ethereum price hovered near $1,800 as Binance ETH futures marked $1,834.82 at 09:16 UTC on November 15, down 3.6% over 24 hours. Analyst CW says whales increased their long positions as
Ethereum price remained under pressure on November 15 as large traders increased long exposure and Binance ETH reserves declined. Binance’s ETH/USDT perpetual futures marked $1,834.82 at 09:16 UTC, down 3.6% over 24 hours, according to Coingecko data. Earlier, ETH climbed above $1,800 on Binance’s spot market, reaching $1,803 at 3:32 a.m. ET.
Analyst CW says whales are adding long positions while smaller traders face liquidations. Separately, analyst Darkfost estimates Binance holds about 2.9 million ETH. The figures have put whale positioning, exchange withdrawals and key price levels in focus after a sharp selloff across the broader cryptocurrency market this week.
On November 13, analyst CW said a measure comparing whale and retail positioning had climbed above 0.6. In a November 15 update, he said the gap continued to widen. CW said whales were adding long positions while retail traders faced liquidations.
Long positions express a bet that the Ethereum price will rise. When leveraged traders cannot maintain enough collateral, exchanges may close their positions and lock in losses.
Source: Coinglass
The divergence points to different positioning among the groups. It does not establish that whales caused retail liquidations or prove they bought ETH in the spot market. Futures exposure can increase without a corresponding purchase of coins for long-term storage.
Meanwhile, CryptoQuant analyst Darkfost estimates Binance ETH reserves have fallen to 2.9 million, their lowest level since 2021. He says reserves have fallen nearly 42% from more than five million ETH in July 2025. After a previous rally above $3,900, Binance reserves climbed above 5.1 million ETH as investors deposited coins, Darkfost said.
His analysis also shows Binance’s 30-day average netflows were negative for most of that period. This means outflows exceeded inflows on average.
Some investors may have moved ETH to private wallets or decentralized finance platforms as the Ethereum price fell, Darkfost said. Such transfers can reduce the amount immediately available to sell on Binance, but they do not confirm accumulation. Holders could move their assets to another exchange. Lower exchange reserves could matter if demand rebounds.
Source: CryptoQuant analyst Darkfost
Exchange balances can change for other reasons. In October, roughly 204,500 ETH was stolen in a Binance wallet hack, as reported.
The Ethereum price has fallen below levels that Gareth Soloway, Verified Investing’s chief market strategist, had discussed. Soloway said he held an ETH long at an average entry near $1,952. The trade represented about a quarter of a full position.
He had planned to add around $1,850, although it is unclear whether he made that purchase. The $1,834.82 futures mark remained below both levels.
In an earlier market reading, the Ethereum price fell to about $1,826, marking a roughly 18% decline over seven days. Bitcoin slipped near $65,400 in the same reading, down about 14% for the week.
Soloway has said a Bitcoin drop below its previous cycle low would challenge his view that a short-term bottom had formed. He reported buying small amounts of Bitcoin and Solana during the selloff.
A separate daily chart analysis placed resistance near $2,170. It put the 50-day and 200-day moving averages near $2,280 and $2,290, respectively. The same analysis identified $1,200 as a longer-term support area, although other support could emerge before then.
Source: TradingView
That analysis placed the daily relative strength index near 22 and the MACD below its signal line. An RSI below 30 is considered oversold, but it does not guarantee a rebound. During a strong downtrend, oversold conditions can persist while selling continues.
For the ETH price to improve, buyers would need to reclaim the $1,850 area and then $1,952. A sustained move higher could bring the $2,170 resistance area back into focus.
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