$ETH’s candlesticks are almost turning into a straight line🥲
From August till now, it’s been grinding back and forth in the 1,850 to 1,925 range. The 30-day volatility has been compressed to 1.68%. The last time it was this quiet was in 2023.
After that low-volatility period, ETH then crashed by 36%. The sideways move could be building up energy—or it could be the prelude to a slow bleed.
ETFs are running—last week the Ethereum spot ETF saw net outflows of 2.26 million. Even BlackRock’s own ETHA ran out 16.39 million. It was ferocious at the start of the month, but the second week basically fizzled out.
Big whales are moving too.
An address holding ETH for over 3 years sold 7,323 ETH on August 8, worth $13.96 million, with cumulative losses of over $19 million. “Big Brother” Machi Big Brother also cut more than half his positions, reducing from 5,264 ETH to 2,500. Early whales reportedly moved their holdings entirely to Bitstamp—possibly a full exit.
So what if staking has locked up 41.90 million ETH? The price is still stuck under 1,900. Less supply ≠ price must rise.
If it can’t break above 1,900, that’s the ceiling. 1,850–1,860 is the lifeline—if it can’t hold, then it becomes 1,830–1,845. If ETH breaks below 1,803, the liquidation strength of cumulative long positions on major CEXs could reach 6.65 billion.
The longer it chops sideways, the harder it blows. With ETFs moving, whales cutting, technical levels breaking down, and longs waiting to be liquidated—these four things are lining up at once.
Don’t bet on a reversal at 1,900. Wait until it truly breaks down before making a move.
From August till now, it’s been grinding back and forth in the 1,850 to 1,925 range. The 30-day volatility has been compressed to 1.68%. The last time it was this quiet was in 2023.
After that low-volatility period, ETH then crashed by 36%. The sideways move could be building up energy—or it could be the prelude to a slow bleed.
ETFs are running—last week the Ethereum spot ETF saw net outflows of 2.26 million. Even BlackRock’s own ETHA ran out 16.39 million. It was ferocious at the start of the month, but the second week basically fizzled out.
Big whales are moving too.
An address holding ETH for over 3 years sold 7,323 ETH on August 8, worth $13.96 million, with cumulative losses of over $19 million. “Big Brother” Machi Big Brother also cut more than half his positions, reducing from 5,264 ETH to 2,500. Early whales reportedly moved their holdings entirely to Bitstamp—possibly a full exit.
So what if staking has locked up 41.90 million ETH? The price is still stuck under 1,900. Less supply ≠ price must rise.
If it can’t break above 1,900, that’s the ceiling. 1,850–1,860 is the lifeline—if it can’t hold, then it becomes 1,830–1,845. If ETH breaks below 1,803, the liquidation strength of cumulative long positions on major CEXs could reach 6.65 billion.
The longer it chops sideways, the harder it blows. With ETFs moving, whales cutting, technical levels breaking down, and longs waiting to be liquidated—these four things are lining up at once.
Don’t bet on a reversal at 1,900. Wait until it truly breaks down before making a move.