Ethereum (ETH) Wave: Selling Pressure Mounts as $3,550 Support Tested
Ethereum saw fresh selling pressure this week, as traders pushed the price toward the $3,550 support level. The action looks technical, fast, and driven by short term sentiment. Below we break down the key levels, what the data shows, what whales are doing, and what traders should watch next.
Ethereum Price Action, Support, and Resistance
Ethereum failed to hold gains above $3,900, then slid below $3,800, testing lower supports. NewsBTC highlights a break below a rising channel, with immediate support near $3,680, and warns that a drop below $3,650 could target $3,550.
On similar lines, CoinFi reports a new wave of selling, with $3,550 noted as the focal support level traders are watching. That call frames the current pullback as a decisive short term test.
Brave New Coin offers a counterpoint, noting consolidation above $3,500, plus accumulation by large addresses. They flag potential upside toward $4,200 if buyers reassert control. This shows that market structure remains balanced between selling pressure and whale accumulation.
Key levels to watch
Support: $3,680, $3,650, $3,550, $3,500.
Resistance: $3,840, $3,920, $4,000, $4,200.
These levels matter because they match technical indicators cited across the coverage, and they set short term risk for traders.
What The Charts Say, Simple
Momentum is bearish on hourly charts. MACD sits in the negative zone, and RSI is below 50, suggesting sellers have control for now. NewsBTC’s hourly breakdown shows the same technical picture, pointing to more downside unless price reclaims $3,840.
At the same time, Brave New Coin highlights accumulation by large wallets, which can act as a floor if selling slows. That accumulation could limit losses or fuel a rebound if whales buy the dip.
On-Chain Signals: Whales, Flows, And Consolidation
Brave New Coin documents mega whale accumulation above $3,500, suggesting institutional or large traders may be positioning for higher targets. This is important because large holders can absorb selling, and they can also trigger rallies if they raise bids.
Meanwhile, exchange outflows and net balances matter. CoinFi and NewsBTC both note liquidity shifts and exchange-based pressure in this move, which helps explain why $3,550 has become a focal level.
Trading Implications, Risk, And Opportunity
Short term traders should respect the downtrend until price reclaims $3,840. Use tight risk management, avoid overleveraging, and watch for volume confirming any move.
For swing traders, accumulation by large addresses suggests a possible buying window near $3,500 to $3,550, but only if on-chain flows and exchange balances align.
For readers doing deeper research, note that tools from AI Stock research suites and AI Stock Analysis platforms can help spot patterns and automate alerts on levels like $3,550; they are useful as a complement to manual chart reading.
Also try AI Stock tools for cross-market correlation checks when macro events hit crypto markets.
News, Data, And The Bigger Picture
The selloff is not isolated to Ethereum. Broader risk assets saw pressure, which amplified ETH’s move. NewsBTC ties the drop to technical failure near resistance and the break of a rising hourly channel.
CoinFi centers the discussion on a selling wave with the $3,550 support in focus, while Brave New Coin balances the view by highlighting whale buying. Together these sources paint a full picture: short term sellers versus selective accumulation by big players.
Conclusion
Ethereum (ETHW) currently faces elevated selling pressure, with $3,550 testing market resolve. The technical picture is bearish on short time frames, but on-chain accumulation by large addresses offers a plausible bull countercase.
Traders should watch $3,550 closely, use clear stops, and combine chart signals with on-chain data before taking fresh positions. If buyers regain $3,840, a move toward $4,000 and $4,200 becomes more likely; if sellers push below $3,550 decisively, lower supports will be tested.
FAQs
Price moved down after failing at resistance near $3,920. Traders who bought earlier booked profits. Technical indicators flipped to bearish on hourly charts.
Possibly, yes. Brave New Coin shows large addresses adding to positions near current levels. If they keep buying, the drop could stall.
Yes, if buyers defend the $3,550 to $3,500 support range and whale accumulation continues. On chain data shows large wallets still adding exposure. If price reclaims $3,840, analysts say $4,000 to $4,200 becomes the next target block.
A break under $3,550 would likely open $3,500 and lower supports. Traders should reduce size or use stops until the structure stabilizes.
Because ETH failed to break heavy resistance zones above $3,900, short term traders are taking profit. Technical indicators flipped bearish, and liquidity is shifting on centralized exchanges. That is causing intensified sell volume at the current support zone.
Disclaimer
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
