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ETH Ethereum maintains a key support level, and the market is concerned about whether it can break through the US$2200 to US$2400 range.
Ethereum is currently holding on to the key support level of US$1780, and market participants are paying close attention to the possibility of moving towards the US$2200 to US$2400 range. Analysts believe that as long as this support level is effective, the short-term trend will remain upward, although the risk of continued selling from large-scale wallet activity cannot be ignored.
Analysts: Support is solid and upside still exists
Michael van der Poppe, a closely watched cryptocurrency analyst, said that Ethereum has turned into an upward trend in a short time frame. He pointed out that the previous resistance level has now turned into support, and as long as $1780 remains firm, the bullish outlook will be further strengthened.
Ethereum is entering a new round of rise, turning the resistance area in the early stage into support. If $1780 continues to hold, the next upside target will be between $2200 and $2400.
Van der Poppe predicts that as market sentiment improves, the possibility of Ethereum breaking through $2000 is increasing. The strength of the $1780 position is considered critical to ETH's current short-term structure.
If the price level weakens, analysts may reassess potential downside risks. However, for now, the market focus is still on whether it can break through to a higher price range again.
Whale activity affects market prospects
Patel, another cryptocurrency market analyst, commented that the Ethereum whale showed no signs of large-scale surrender. Although profits for large wallets have declined as the market corrects, he pointed out that most of these major holders are still profitable.
Ethereum Whales have not surrendered, but as whale profits shrink and a large amount of ETH is deposited into Binance, the risk of a new round of selling still exists.
Patel believes this situation provides whales with the possibility of both selling and support, depending on their risk appetite and market conditions. Whether large holders choose to liquidate or increase their holdings will greatly affect the short-term price trend.
Patel emphasized the importance of tracking the flow of funds and the movements of large wallets. Changes in whale behavior, including deposits and stablecoin balances, may help predict whether demand supports further gains or whether selling pressure will weaken support.
Binance deposits and stablecoin reserves raise alarm
Binance's rising ETH deposits have worried some traders because it suggests that the market may have more supply to sell amid increased volatility. This trend has created additional uncertainty and prompted people to look more closely at exchange-related data.
Patel observed that whales retain large reserves in the two major stablecoins, USDT and USDC. The large stablecoin balance allows them to respond quickly to price changes-if bullish momentum arises, they can buy ETH; if market sentiment weakens, they can sell when it falls.
The current balance of the market depends on whether the $1780 level can withstand further pressure. If this support level is decisively breached, it may trigger a new round of buying, and US$2200 to US$2400 will become the next target area. On the other hand, the increase in exchange deposits sends a warning signal to traders tracking potential supply surges.
Key prices and risk factors
Support: US$1780
Resistance target: US$2200 - 2400
Whale activity: Binance deposits increase, USDT and USDC balances are high
Main risk: Large holders may sell
