Overview
- Ether has slid to about $1,600 after breaking the February support zone near $1,800–$1,900 and testing lows near $1,500, leaving price action in a clear sequence of lower highs and lower lows.
- The Delta Price metric, which some analysts say has identified prior ETH bottoms, sits near $708 and would imply a far deeper drawdown if its past patterns repeat.
- Arkham Intelligence data reported three large withdrawals totaling $122.29 million of ETH from FalconX and Kraken into two newly created wallets, a pattern traders typically read as moves into long‑term custody rather than an intent to sell.
- One withdrawing address is carrying an estimated $9.1 million unrealized loss and Arkham noted the behavioral profile resembles Bitmine/Tom Lee’s public accumulation strategy, though direct ownership has not been confirmed.
- Market recovery hinges on reclaiming long-term moving averages — the 200-week SMA near $2,500 and the 50-week SMA near $3,100 — and analysts say further exchange outflows or a failure to reclaim resistance would increase the chance of renewed declines.