ETH Slides to $2,555 Amid Sell-Off, but Whale Accumulation Hits Highest Levels Since 2017

Ethereum’s ETH fell 3.7% on Tuesday to trade at $2,555.77, retreating after a sharp rejection near the $2,673 level triggered a fresh wave of selling pressure. The decline followed several days of waning momentum and rising volatility, culminating in a late-Monday sell-off that broke through initial support and left ETH trending lower through much of Tuesday’s session.

Despite this bearish price action, on-chain data suggests that larger investors remain undeterred. Blockchain analytics firm Glassnode reports that daily net accumulation among whale addresses has consistently exceeded 800,000 ETH for nearly a week. Wallets holding between 1,000 and 10,000 ETH now control over 14.3 million ETH, marking a significant increase.

The single largest daily net inflow occurred on June 12, when whale addresses added more than 871,000 ETH—the biggest one-day inflow so far in 2025. Glassnode noted that this scale of accumulation hasn’t been witnessed since the market boom of 2017, highlighting the intensity and conviction behind recent large-holder buying activity.

This wave of whale accumulation has coincided with ETH’s retreat from levels above $2,700, suggesting that some investors view the current price correction as a strategic buying opportunity. Analysts speculate that whales may be positioning for potential catalysts, including further institutional flows or developments related to ETH-based ETFs.

While technical signals remain cautious in the short term, the scale of whale buying underpins a growing sense of long-term confidence among large market participants. ETH remains just above key support levels, with traders closely watching to see whether accumulation can spark a near-term rebound—or at least help cushion further downside risk.

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Technical Analysis Snapshot

• During the June 16 session, ETH dropped 5.7% from $2,679.99 to $2,527.37, with trading volume exceeding 560,000 ETH.
• A sharp sell-off occurred around 22:00 UTC, confirming resistance near $2,650 and accelerating downward momentum.
• Following the drop, ETH attempted a recovery, stabilizing near $2,540 and forming a tighter consolidation range.
• In the session’s final hour, ETH climbed from $2,550.57 to a peak of $2,564.28, eventually settling near $2,553.40.
• A volume spike at 13:30 UTC saw over 12,200 ETH traded, driving a brief 1.6% rally to $2,561.59.
• A subsequent pullback found support at $2,549.56 during the 13:44 candle, creating an ascending channel as buyers stepped in.
• The $2,553–$2,555 price zone emerged as a key consolidation area during ETH’s recovery phase.