$380M ETH Flees Exchanges in a Week – Whale Accumulation Goes Parabolic

Crypto’s big players are pulling Ethereum off exchanges at a staggering rate—$380 million vanished in just seven days. This isn’t your average ’hodl’ strategy; it’s a full-scale capital exodus.

Why the fire sale? Two theories dominate: Either institutions are prepping for the next bull run... or they’ve finally realized leaving coins on exchanges is like trusting a bank with your Monopoly money. Smart contracts don’t need bailouts.

The kicker? This outflow coincides with ETH’s supply crunch post-merge. Fewer coins, bigger stakes—classic power play from the crypto elite. Retail traders left holding bags again? Probably.

Ethereum Faces Critical Test Amid Accumulation Trend

Ethereum continues to face headwinds as it trades more than 55% below its December highs, hovering beneath the $2,000 resistance zone. While the broader crypto market shows signs of revival, ETH remains locked in a critical battle between supply overhead and renewed buying interest. The recent price structure shows some bullish development in lower time frames, as buyers attempt to build momentum. However, strong resistance levels still loom, and failure to break through could trigger a fresh move into lower demand zones around $1,700 or even $1,500.

Despite these technical challenges, on-chain data paints a more encouraging picture. According to IntoTheBlock, centralized exchanges have seen net Ethereum outflows of roughly $380 million over the last seven days. This steady reduction in exchange-held ETH suggests a growing trend of accumulation, often interpreted as investors moving coins to cold storage rather than preparing to sell. This behavior typically reduces sell-side pressure and can lay the groundwork for more sustainable rallies.

Market sentiment remains mixed. Some analysts argue that Ethereum is gearing up for a breakout, with shifting momentum hinting at an imminent surge. Others remain cautious, warning that macroeconomic uncertainty and fragile investor confidence could still pull ETH into a deeper correction. The coming days will be crucial in defining Ethereum’s trajectory.

ETH Price Analysis: Testing Key Resistance

Ethereum (ETH) is currently trading at $1,837 after several days of consolidation just below the $1,850 level. As seen in the daily chart, ETH has been attempting to form a short-term bullish structure after rebounding from April lows NEAR $1,550. The price has steadily climbed but now faces significant resistance near $1,850—a level that has acted as both support and resistance in previous months.

Volume has been relatively stable but not convincingly high, indicating that bulls are gaining control but lack strong momentum to break through. The 200-day Simple Moving Average (SMA) at $2,271 and the 200-day Exponential Moving Average (EMA) at $2,456 remain distant overhead targets. These levels represent key longer-term resistance, and reclaiming them would be a major bullish signal.

For now, ETH must close decisively above $1,850 to validate this short-term trend reversal. A failure to do so may result in another retest of support around $1,700 or even lower, particularly if broader market sentiment shifts. However, the price holding above recent swing lows and forming higher lows signals that bullish pressure is building gradually. A breakout above $1,850 would open the door to a move toward the $2,000–$2,200 zone.

Featured image from Dall-E, chart from TradingView