Ethereum Price Eyes $1,777 Resistance as Whale Selling Risk Grows

This article was first published on The Bit Journal. Ethereum price held steady in a narrow range, despite modest gains in the last 24 hours, with traders considering the improved technicals and the increased inflows on exchanges. A recent whale transaction has brought back the possibility of selling pressure, although the second largest cryptocurrency managed to bounce back slightly.

Ethereum Price Struggles Above Key Resistance

As of writing, Ethereum price was near $1,716. Investors remain divided as the lack of a clear move has caused some to cut back on positions, and others to wait for more solid indications for the next trend.

One transaction that caught the market’s attention involved prominent Ethereum whale Satofashi (Chun Wang). The investor bought around 91,945 ETH, worth nearly $160 million, in late May and June at a cost of $1,749 per token on average.

Whale Transfer Fuels Ethereum Selloff Concerns

Blockchain tracking platform Lookonchain later revealed that the whale sent 16,842 ETH, valued at approximately $26.9 million, to a cryptocurrency exchange. Such deposits may lead to concern that there is a sell-off, yet exchange transfers can be made for other reasons such as portfolio changes or liquidity. Interestingly, most of the whale’s Ethereum assets were left untouched, which could indicate a strategic shift rather than a total selloff.

Chun Wang(@satofishi) bought another 9,937 $ETH($15.5M) and 147 $WBTC($8.74M) today.

Over the past month, #ChunWang has withdrawn a total of 86,998 $ETH($152M) from #Binance at an average price of $1,749, and 973 $WBTC($60.7M) at an average price of $62,418.… pic.twitter.com/QjjBr3invB

— Lookonchain (@lookonchain) June 26, 2026

Market data also pointed to increasing exchange activity. Ethereum’s Exchange Netflow was still positive in the past two days, as approximately 14,000 ETH was transferred to exchanges, according to CryptoQuant. The increased inflows may suggest increased selling pressure, but the Ethereum price remains relatively stable.

Technical Indicators Favor Ethereum Price Rebound

Technicals, on the other hand, had a more positive outlook. Weakening bearish momentum was indicated by the MACD remaining negative and forming a bullish crossover. Meanwhile, the BvB indicator has also moved into positive territory for two straight sessions after a week of negative readings.

If bullish momentum strengthens, Ethereum price could attempt a move toward $1,777. Exchange inflows from large investors, however, can make things more risky, and the $1,500 support level may be put under pressure once again.

Conclusion

Ethereum price is at a crucial juncture, where technical momentum is on the rise while also seeing increased inflows into exchanges from large holders. The ongoing trend to the upside may boost the prospects for recovery, whereas the continued whale accumulations may reignite selling pressure, with the $1,500 support and $1,777 resistance worth watching.

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Summary

• Ethereum price traded near $1,716 in a tight range.
• A whale moved 16,842 ETH to an exchange as exchange inflows continued to rise.
• Bullish technical signals emerged, with $1,777 as resistance and $1,500 as key support.

Glossary of Key Terms

Ethereum Price: The current value of ETH.

Whale: A large cryptocurrency holder.

Whale Transfer: A large crypto transaction.

Exchange Inflows: Crypto sent to exchanges.

Exchange Netflow: Difference between exchange inflows and outflows.

Selling Pressure: Increased selling activity.

MACD: A momentum technical indicator.

Resistance Level: A price ceiling where selling may increase.

Frequently Asked Questions about Ethereum Price

1. Why is Ethereum price moving sideways?

Ethereum price stays range-bound amid rising exchange inflows.

2. Why did the whale transfer matter?

The 16,842 ETH transfer raised concerns about potential selling pressure.

3. What do the technical indicators show?

The MACD and BvB indicators suggest bearish momentum is weakening.

4. What are Ethereum’s key price levels?

$1,500 is key support, while $1,777 is the next major resistance.

Reference

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Disclaimer

The article is purely informational and it is not a financial, investment, or a trading advice. Cryptocurrencies are extremely risky and volatile. Before investing, the readers are to conduct personal research and seek the advice of a qualified financial expert.

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