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ETH Ethereum Ecological Panorama: Analyze the latest market dynamics
Ethereum is still hovering above the key price range, striving to avoid falling into a deeper downward trend. Although it has risen slightly by 0.55% in the past 24 hours and is currently trading at $1,861.67, indicators suggest its bullish momentum is weakening.
Where is the market outlook heading?
Ethereum's recent trading volume soared to US$21.41 billion, with a market value of US$225.24 billion. Even in the inherent volatility of the cryptocurrency market, such trading activity suggests that market participants maintain continued attention. According to well-known cryptocurrency analyst Ted, the current support area of US$1800 to US$1850 is crucial. Successful holding of this support level may indicate that prices will move towards higher resistance; but a break below this range may trigger prices to fall to $1700. His view points out that in times of market turmoil, support levels tend to attract a lot of buying interest.
However, once these support levels are breached, selling activity by short-term traders usually intensifies, increasing downward pressure. Cryptocurrency analyst Ted emphasized that the $1800 to $1850 range is crucial for Ethereum, and holding this level may push prices up further, while a break below may push prices down to $1700.
Long-term holders return to the market: What does this mean?
A large transaction from a long-dormant wallet attracted market attention. This wallet, which has been inactive for nearly three years, sold 2250 Ethereum pieces on August 3, 2026, worth approximately US$4.15 million. The investor bought it eight years ago for an average price of about $489 each, and the sale yielded considerable profits.
Large transactions in wallets that have been inactive for a long time often cause the market to worry about trends. However, a single transaction does not define the overall direction of the market. Lookonchain reported on the early investor's sell-off, emphasizing that its profit margins were impressive considering a purchase price of about $489 eight years ago and recent sales of $4.15 million.
Technical data shows that Ethereum's upward momentum is slowing, with the Relative Strength Index (RSI) of 51.05, which has fallen below its moving average. At the same time, the Moving Average Convergence and Divergence Indicator (MACD) also reflects that upward momentum is weakening.
Against this background, the following key factors are gradually emerging:
Although the RSI is still above the neutral line, buying pressure has weakened; a bearish cross appears on MACD, indicating that the influence of selling has increased; the movements of important long-term holders may bring volatility; and changes in trading volume may signal a shift in buying and selling trends.
Market participants are closely watching Ethereum, focusing on whether it can hold the key support level of $1800. Further movements by major investors (i.e."whales") may provide clues as to the next direction of the market.
