Ethereum Price Forecast: ETH long-term holders and whales join retailers in selling activity
Ethereum price today: $2,200
- Ethereum exchange reserves have risen by over 500K ETH in the past week as prices remain subdued by bears.
- The sell-off has been dominated by whales, who have distributed over 620K ETH in the past five days.
- Ethereum struggles near the $2,200 support as bears could push prices to $1,500.
Ethereum (ETH) is down 2% on Friday as long-term holders and whales joined small-scale retailers in broadening the selling activity.
Ethereum whales shed holdings amid extended bearish pressure
Ethereum exchange reserve has been rising rapidly since February 21 with investors depositing over 500K ETH on exchanges for potential selling activity.
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ETH Exchange Reserve. Source: CryptoQuant
The recent selling pressure has been initiated by whales and long-term holders (LTHs) who are potentially looking to cut losses or sell before prices fall to their cost basis. With the bearish pressure now sustained for nearly a month, this group has joined short-term holders (STHs) and retailers in the selling activity.
The slight decline in the Mean Coin Age and increase in the Dormant Circulation of older coins age band shows the move from LTHs.
 [21.15.53, 28 Feb, 2025]-638763718100488103.png)
ETH Mean Coin Age & Dormant Circulation. Source: Santiment
Additionally, in the past four days, whales holding between 10K-100K ETH have shed over 620K ETH, sending prices toward the $2,000 psychological level.
 [21.15.58, 28 Feb, 2025]-638763718499492459.png)
ETH Supply Distribution. Source: Santiment
Meanwhile, the Ethereum Foundation (EF) announced the launch of the Silviculture Society, a group of individuals that includes builders and core community voices to help provide "informal counsel" to its team members.
The EF Silviculture Society: a loose collection of individuals from outside the Foundation who provide informal counsel to the EF in tending to the (dark or otherwise) forests in the infinite garden of Ethereum, to make sure we sustain the core values of open source, privacy,… pic.twitter.com/cleIrpArCi
— Ethereum Foundation (@ethereumfndn) February 28, 2025
"It is an experimental effort to create more channels for builders and other community voices to influence the EF, and in this case the scope is core cypherpunk and regen values. They have already given advice on timely and critical topics such as wallet security," wrote Ethereum co-founder Vitalik Buterin in an X post on Friday.
Ethereum Price Forecast: ETH struggles near $2,200 amid rising bearish pressure
Ethereum sustained $231.69 million in futures liquidations in the past 24 hours, per Coinglass data. The total amount of liquidated long and short positions accounted for $179.85 million and $51.85 million, respectively.
ETH is down nearly 20% on the weekly timeframe and is struggling to hold the $2,200 lower boundary of a rectangular channel as bearish sentiment continues to pressure the crypto market. If ETH fails to hold the $2,200 level, it could decline to test the support near $1,500 — a level last seen in October 2023.
ETH/USDT weekly chart
The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are below their neutral levels, indicating dominant bearish momentum.
Meanwhile, the Stochastic Oscillator (Stoch) is deep in the oversold region, indicating ETH could be primed for a recovery.
A weekly candlestick close above $2,850 will invalidate the bearish thesis.
Ethereum FAQs
Ethereum is a decentralized open-source blockchain with smart contracts functionality. Its native currency Ether (ETH), is the second-largest cryptocurrency and number one altcoin by market capitalization. The Ethereum network is tailored for building crypto solutions like decentralized finance (DeFi), GameFi, non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), etc.
Ethereum is a public decentralized blockchain technology, where developers can build and deploy applications that function without the need for a central authority. To make this easier, the network leverages the Solidity programming language and Ethereum virtual machine which helps developers create and launch applications with smart contract functionality.
Smart contracts are publicly verifiable codes that automates agreements between two or more parties. Basically, these codes self-execute encoded actions when predetermined conditions are met.
Staking is a process of earning yield on your idle crypto assets by locking them in a crypto protocol for a specified duration as a means of contributing to its security. Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism on September 15, 2022, in an event christened “The Merge.” The Merge was a key part of Ethereum's roadmap to achieve high-level scalability, decentralization and security while remaining sustainable. Unlike PoW, which requires the use of expensive hardware, PoS reduces the barrier of entry for validators by leveraging the use of crypto tokens as the core foundation of its consensus process.
Gas is the unit for measuring transaction fees that users pay for conducting transactions on Ethereum. During periods of network congestion, gas can be extremely high, causing validators to prioritize transactions based on their fees.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
