Ethereum (ETH) is no exception to the unpredictability of the cryptocurrency market. Recent on-chain data has revealed a significant support zone for ETH, just under $1,900, where a substantial accumulation of coins has taken place. However, this support zone is precarious, and if ETH slips below this range, the risk of capitulation grows. On-chain data indicates a significant support zone for ETH just under $1,900, where around 3.56 million ETH was acquired between $1,843 and $1,900. This accumulation suggests robust support, but if ETH slips below this range, the risk of capitulation grows, as demand appears… pic.twitter.com/MbGgvuwNAG — IntoTheBlock (@intotheblock) March 17, 2025 The data indicates that around 3.56 million ETH was gathered between $1,843 and $1,900. This accumulation suggests that ETH has strong support at this level. A considerable number of investors would have to sell to push ETH down to around $1,800. Conversely, if ETH can’t hold this support and falls below, it looks like capitulation! Whales and Institutional Investors: A Cautionary Tale Besides the support zone, current whale activity has raised some concerns. In the past week, whales have distributed over 130,000 ETH, which could be signaling a lack of confidence in the market. Even though the big boys are known to make big moves, this one may not be an isolated incident. On top of that, we’re hearing that institutions might not be feeling too bullish these days, either. Last week, Ethereum spot ETFs saw a net outflow of $178 million in just one week—not precisely a vote of confidence coming from the institutional direction. Whales have moved off over 130,000 #Ethereum $ETH in the past week! pic.twitter.com/lrin2Npj8l — Ali (@ali_charts) March 17, 2025 These factors, when combined, create a delicate balance for ETH’s pricing. The support zone at $1,900 provides a strong base, but below that base, demand is shaky. Add to that the price agitation caused by not just whale but also unbelieving institutional investor activity (more on that shortly), and what emerges is a picture of an ETH that is very possibly primed to drop. Last week (March 10 to March 14, EST), Bitcoin spot ETFs had a net outflow of $838 million. Blackrock ETF IBIT had a net outflow of $338 million, and Fidelity ETF FBTC had a net outflow of $317 million. Ethereum spot ETFs had a net outflow of $178 million in a single week.… — Wu Blockchain (@WuBlockchain) March 17, 2025 The market is changing all the time, and all of us in this ecosystem must pay close attention to those changes and trend them. As we trend them, we must also adjust our expectations and, ultimately, our plans because these are living, breathing creatures. What was a support zone last month might be a resistance zone this month, and vice versa. To sum up, the latest on-chain data and market activity imply that ETH’s price is at an essential point. The support zone at $1,900 is a solid foundation, but demand under this level is weak and getting weaker. Moreover, whale and institutional investor activity tells a cautionary tale that makes ETH’s price seem vulnerable to a downturn. These trends need to be monitored carefully as the market evolves. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: ra2studio/ 123RF // Image Effects by Colorcinch
