Ethereum (ETH), Price Consolidates While Whales Actively Buy... Will it Surpass $2,000 This Time?

▲ Ethereum (ETH)/AI Generated Image

While Ethereum (Ethereum, ETH) is consolidating in a narrow price range, the buying trend by institutions and large holders is strengthening. With bearish pressure easing in technical indicators, attention is focused on whether it will break through key resistance levels.

According to crypto media outlet FXStreet on August 7 (local time), US-listed Ethereum spot ETFs saw a net inflow of $195.34 million by Thursday. If net inflows continue on Friday, it will mark five consecutive weeks of capital inflows, signaling sustained demand from institutional investors.

The accumulation of Ethereum by large investors has also been notable. According to CryptoQuant, the balance of wallets holding 1,000 ETH to 10,000 ETH decreased from approximately 15.6 million ETH in January to approximately 12.9 million ETH. Conversely, wallets holding 10,000 ETH to 100,000 ETH increased from approximately 14 million ETH in mid-2025 to an all-time high of approximately 19.6 million ETH by Wednesday. Whales holding over 100,000 ETH also added approximately 1.8 million ETH since mid-2025. CryptoQuant analyzed that large holders are absorbing the supply coming from smaller wallets.

On the weekly chart, bearish pressure gradually eased. Ethereum broke above the descending parallel channel formed since mid-August 2025 in mid-July. If the upward trend continues, the next major resistance level is the 200-week Simple Moving Average (SMA) at $2,484. The weekly Relative Strength Index (RSI) is at 42, rising towards the neutral line of 50. The Moving Average Convergence Divergence (MACD) has maintained a bullish signal since forming a bullish crossover in early July. Conversely, if the downtrend expands, $1,511 is presented as a major support level.

The short-term trend still lacks a clear direction. Ethereum has moved between the 50-day Exponential Moving Average (EMA) of $1,857 and the 100-day Exponential Moving Average of $1,925 for the past 22 days. On the upside, $2,000 is a major resistance level after $1,925, followed by the 200-day Exponential Moving Average at $2,132. On the downside, $1,857 is the primary support level, and if selling pressure increases, $1,385 is presented as a deeper support level.

[Article Summary]

-US-listed Ethereum spot ETFs saw a net inflow of $195.34 million by Thursday.

-The balance of large wallets holding 10,000 ETH to 100,000 ETH reached an all-time high of approximately 19.6 million ETH.

-Ethereum is consolidating between $1,857 and $1,925, with a break above $2,000 presented as a key technical turning point.

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