Ethereum (ETH) whales have been selling off their coins, causing a spike in selling pressure and limiting the coin's near-term upside potential. The selling pressure is indicated by an increase in whale inflow into cryptocurrency exchanges. This selling activity has resulted in a rise in the supply of ETH on exchanges, potentially putting downward pressure on the price. Additionally, there has been a decline in new addresses created to trade ETH and a decrease in active address count, suggesting reduced demand for the asset. If whales continue to sell and broader market offloading occurs, the price of Ethereum could retest support levels and potentially drop by 18%. However, if whales stop selling and new demand enters the market, Ethereum could experience further price increases and potentially break past key resistance levels.



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