Ethereum at a Crossroads: Will $2,450 Support Hold or Slide to $2,100?
Ethereum (ETH) is currently trading at $2,534.80, reflecting a 3.25% decline over the past 24 hours amid growing bearish pressure. The cryptocurrency is struggling below key moving averages, with its 24-hour trading volume dropping to $23.47 billion, signaling cautious market sentiment. Technical analysis indicates a potential rebound if ETH can maintain support between $2,400 and $2,450, with upside targets of $2,700 to $2,800. However, a breakdown below this critical support zone could trigger a further decline toward $2,100. Market participants are also eyeing potential regulatory clarity from the SEC, which could serve as a catalyst for renewed institutional interest in Ethereum. As of May 31, 2025, the ETH price stands at $2,534.80 USDT, leaving traders and investors closely monitoring these key levels for directional cues.
ETH Price Analysis: Can Ethereum Bounce Back from $2,450 or Fall to $2,100?
Ethereum trades at $2,527.51, down 3.25% in 24 hours, as bearish pressure mounts below key moving averages. The 24-hour trading volume dipped to $23.47 billion, reflecting cautious market sentiment.
Technical patterns suggest a potential rebound if $2,400-$2,450 support holds, targeting $2,700-$2,800. A breakdown could trigger a slide toward $2,100. Regulatory clarity from the SEC may catalyze institutional interest in ethereum staking.
Hyperliquid Whale Activity: Big ETH Trades Drive Market Moves
A crypto whale identified as 0x15b has captured market attention with a $24.5 million unrealized profit from strategic long positions on Hyperliquid. The trader’s Ethereum bet alone yielded $9.91 million, showcasing both precision and conviction in ETH’s upward trajectory.
Hyperliquid’s Leveraged derivatives platform has emerged as a preferred venue for sophisticated players, with 0x15b’s 15/16 win rate underscoring the platform’s growing institutional appeal. The whale’s decision to maintain open positions signals continued bullishness amid DeFi’s accelerating capital inflows.
Ethereum Whales Unload Holdings, Sparking Market Concerns
Two early Ethereum investors, participants in the 2014-2015 ICO, have moved significant amounts of ETH to centralized exchanges. Approximately 684,100 tokens were sold, contributing to a 3.3% price decline. The sell-off has raised questions about short-term market sentiment.
The first whale, holding 1 million ETH from the ICO, deposited 959.69 ETH ($2.54 million) to OKX. The second transferred 587 ETH ($1.56 million) to Kraken, continuing a sell-off that began in March. These investors acquired ETH at $0.31 during the ICO and are now realizing substantial profits.
Market observers are monitoring whether this activity signals a broader bearish shift or simply reflects profit-taking by long-term holders. The Ethereum network’s fundamentals remain strong, but large movements by early investors often trigger volatility.
Ethereum Price Forecast: Pullback Sparks Bullish Sentiment and Whale Action
Ethereum’s price retreated nearly 10% to $2,530 after failing to breach the $2,800 resistance level, yet the dip has ignited aggressive accumulation by institutional players. On-chain data reveals whales purchased over 1 million ETH worth $2.5 billion during the correction, signaling strong conviction in the asset’s long-term prospects.
Market analysts interpret this pullback as a strategic entry point, noting Ethereum’s fundamentals remain robust. The network continues to demonstrate the highest net flows among major blockchains, underscoring its institutional appeal despite short-term volatility.
While retail traders exhibit panic selling behavior, the whale activity suggests sophisticated investors are positioning for the next upward cycle. This divergence between retail and institutional responses creates a classic accumulation pattern often preceding significant price movements.
