Ethereum

Ethereum Price Analysis: ETH backtests important support, what’s next?

ETH/USD – Ether Returns To 20-day MA Support

Key Support Levels: $3000, $2960, $2890.

Key Resistance Levels: $3170, $3360, $3540.

After surging by almost 94% over the past three weeks, Ethereum has finally seen a meaningful retracement. The coin is now down by a total of around 8% since hitting $3350 at the start of the week.

The cryptocurrency met resistance at $3350 (bearish . 618 Fib) over the weekend and failed to establish momentum above that. There were signs of bearish divergence, which caused ETH to roll over and hit the 20-day MA today. A. 236 Fib further bolstered the support at the 20-day MA, and it allowed ETH to bounce back above $3000 to the current $3050 level.

ethusd-aug18-min — ETH/USD Daily Chart. TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first resistance now lies around $3170. This is followed by $3350 (bearish . 618 Fib), $3540 (1. 618 Fib Extension), and $3790 (bearish . 786 Fib).

On the other side, the first support lies at $3000. This is followed by $2960 (. 236 Fib & 20-day MA), $2890 (June highs), and $2720 (. 382 Fib).

As mentioned, the RSI displayed bearish divergence. It has since pulled back from overbought situations. The RSI is still above the midline, which indicates that bulls still control the market momentum.

ETH/BTC-ETH Breaks Under Short-Term Symmetrical Triangle

Key Support Levels: 0. 067 BTC, 0. 066 BTC, 0. 0651 BTC.

Key Resistance levels: 0. 0691 BTC, 0. 07 BTC, 0. 072 BTC.

ETH traded within a symmetrical triangle structure since August’s first week. Yesterday, ETH fell below 0. 068 BTC. Today, ETH dropped to 0. 0665 BTC but is battling to remain above the 20-day MA at 0. 0675 BTC.

Again, the retracement is quite healthy after ETH surged as much as 25% from the July lows to meet resistance around 0. 071 BTC.

ethbtc-aug18-min — ETH/BTC Daily Chart. TradingView.

ETH-BTC Short Term Price Prediction

Moving forward, the first support towards the downside lies at 0. 067 BTC (. 382 Fib). Then, follow by 0. 066 BTC (100-day MA), 0. 0651 BTC (.5 Fib), and 0.064 BTC (50-day MA).

The first resistance is at 0. 0691 BTC (July highs). Then, follow by 0. 07 BTC, 0. 072 BTC (beraish . 618 Fib), and 0. 074 BTC.

The RSI is back at the middleline. This indicates indecision in the market. So long as the RSI does not dip beneath 50, the buyers could be able to force a recovery back above 0. 07 BTC soon.

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Cryptocurrency charts by TradingView.

Ethereum

Ethereum Derivatives Traders Position for $4K Rebound, Data Shows

Ethereum ( ETH) derivatives traders are back in full swing, with open interest, volume, and options activity all flashing signs of renewed energy across futures and options markets. ETH Max Pain Sits Near $3,300 as Traders Eye Key Expiry Levels At 10 a.m. Eastern time on Nov…
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Ethereum

ETH2 Beacon Deposit Contract Now Controls 60% Of All Ethereum: Arkham

Rain Lohmus bought $75,000 worth of ETH in 2014, which is now worth $871 million. Yet, he cannot move even a single coin.

New on-chain research from Arkham Intelligence this week shows that the wallet address holding the most ETH today is not an individual, not an exchange, not an ETF issuer, but the staking contract that secures Ethereum.

According to Arkham, the ETH2 Beacon Deposit Contract currently holds more than 72.4 million ETH, worth around $252 billion at current market prices, and represents approximately 60% of the total supply.

Ethereum’s Power Center

In terms of individuals, the research firm confirmed that the largest known individual holder of ETH is still Rain Lohmus, the founder of Estonian bank LHV, who bought 250,000 ETH in the 2014 presale for around $75,000. Those coins would now be worth roughly $871 million, but Lohmus does not have access to them because he lost the private keys years ago.

The second largest identifiable individual holder is Ethereum co-founder Vitalik Buterin, who currently holds around 240,000 ETH, worth around $840 million.

Beyond individual wallets, centralized exchanges and institutional entities collectively control some of the largest pools of Ether. Binance, for one, holds approximately 4.09 million ETH, while asset manager BlackRock holds around 3.94 million ETH, largely associated with its iShares Ethereum Trust ETF. Coinbase is the next largest institutional holder, with approximately 3.5 million ETH across multiple addresses, including cold wallets and staking reserves for its cbETH staking token.

Following suit are Upbit, Robinhood, Kraken, OKX, and Bitfinex, which appear among the top institutional holders.

Seized Funds, Stolen Funds, and Layer-2 Bridges

Arkham found that governments also appear on the leaderboard. For instance, the United States government controls around 60,000 ETH, which largely consists of seized criminal funds, including from the Potapenko/Turogin case and from seizures related to the Bitfinex hacker.

Ethereum

Ethereum Traders Just Flipped Bullish, But History Says This Is a Major Red Flag

Ethereum’s bounce toward $3,500 triggered instant FOMO, but Santiment says extreme optimism usually means price is about to disappoint.

Ethereum traders have swung sharply from extreme bearishness to extreme bullishness within just a few days, based on social media sentiment.

But fresh data suggest that when ETH nearly rebounded to $3,500 on Thursday, the crowd interpreted the move as a confirmation that the asset was “back in business.”

ETH Trader FOMO

Santiment warned that this sudden pivot is similar to the same pattern seen earlier in the week, when retail panic selling actually contributed to the rebound. Now, the rapid return of FOMO could similarly stall further upside.

According to the analytics platform, prices have shown a tendency to move in the opposite direction of the crowd, and that more neutral sentiment phases have proven to be stronger buy signal environments than euphoric ones.

Crypto trader Ted Pillows also noted that even though the altcoin is showing some rebound after this week’s sharp decline, the recovery lacks conviction. According to Pillows, the current move higher, though modest, is being driven largely by short positions being closed rather than new spot buyers stepping in. He added that Ethereum needs to reclaim the $3,600-$3,700 price range with meaningful inflows to establish strength and dismiss the risk of further downside. Without that confirmation, Pillows believes the odds still favor lower prices from here.

Despite the near-term uncertainty, some traders say the bigger picture is still pointing toward a substantial upside scenario. For instance, crypto trader “Trader Tradigrade” said that ETH’s monthly chart is currently developing what he describes as a massive Inverse Head and Shoulders pattern, with a potential price target of $14,000 once confirmed.

“Wet Blanket” Phase

As the crypto market remains sluggish, Galaxy CEO Mike Novogratz believes that this could be due to long-term holders rebalancing their net worths and diversifying away from massive concentrated holdings after a very long bull market. Novogratz deems this to be a healthy sign in the medium and long term as these positions get distributed. In the short run, however, he said that “it’s a proverbial wet blanket” and has weighed on prices.

About the author

Chayanika has been working as a financial journalist for six years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm.