Ethereum Market Analysis: Drop in Transactions, Potential for Price Revival

Share on Facebook Share on Twitter

Ethereum’s Weekend Slump – An Analysis

In recent days, there has been a dramatic decline in major ETH transactions. Ethereum [ETH] continued its retreat over the weekend, falling to as low as $2,407, according to CoinMarketCap. The largest altcoin fell by 2.64% in the last 24 hours, with weekly losses of more than 4%.

What’s Next for Ethereum?

Technical analyst Ali Martinez has analyzed recent developments and noted that ETH is in a critical zone. A bounce from the support at $2,388 could potentially drive ETH upwards. However, he also warned market traders and noted that we could see a pullback to the next significant support zone around $2,000 if ETH fails to hold this level.

However, the market sentiment was not exactly bullish. According to the analysis of CryptoQuant data by AMBCrypto, the ratio of ETH’s buying volume to selling volume of the takers in the last 10 days was below 1. This means that more sellers were willing to sell at a lower price, which in turn signals that the selling pressure was stronger than the buying pressure at the time of writing.

You can also find us on Telegram: Click here to follow our Telegram channel.

Whale Investors Hold Back

Another notable aspect that caught attention was the activity of whale investors. Using Santiment’s data, AMBCrypto noted a dramatic decline in large ETH transactions in the last 10 days. Note how the surge in transactions from January 7th to 10th caused a rise in ETH price, suggesting that the whales were accumulating. However, the rise was halted as the whales pulled back. Since then, ETH has been range-bound.

Also, the ETH reserves on the exchanges have decreased in the past week. This is a sign that the whales are in a mood to HODL.

Derivative Traders Are Bearish on ETH, But…

A look at ETH’s derivative market shows that bearish leveraged traders were dominant at the time of pressure. According to Coinglass, the longs/shorts ratio of ETH has been below 1 since January 12, suggesting that positions betting on price declines were more than those betting on price increases.

Interestingly, the market sentiment according to the investigation of Hyblock data by AMBCrypto has shifted from neutral to greedy. This could pave the way for an increase in ETH buying in the coming days and thus revive its price.


Recent movements and trends in Ethereum show a mixed sentiment among investors. While some are bearish and selling, there are signs that others are getting greedy and could buy. It remains to be seen how these dynamics will develop in the coming days and what impact they will have on the price of Ethereum.

Sources: CoinMarketCap, CryptoQuant, Santiment, Coinglass, Hyblock Capital

Share on Facebook Share on Twitter
Casinos: 45
Profile Ethereum
Symbol ETH
Coin type Alt Coin
Transaction Speed Medium
  • Second largest cryptocurrency
  • Accepted in many casinos
  • High transaction speed
  • Partial bugs in smart contracts
Price 3.337,41 €
Percent Change 24h 4,57 %
Percent Change 7d -4,62 %
Percent Change 30d 22,73 %
Percent Change 60d 10,95 %
Percent Change 1y 108,66 %
Market Cap 401.091.598.058,00 €
Official Links
Socials Reddit | X
Best 3 Ethereum casinos

Latest News

Paula Winkler

Created by

After over 6 years in print journalism, I stumbled into the iGaming niche in 2017. One thing became evident to me quickly: Online Casino Reviews need more transparency! I joined the Team in 2023 and are the main expert for all topics related to „Player Security“.
In my private life, I am an active member of the volunteer fire department and enjoy the outdoors with my dog Ruby.
Reviewed by
Nerd of Numbers

Last update: 11. June 2024 Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

We use cookies. By using this site, you accept them.