Ethereum is stabilizing around $2,150 amidst ongoing market volatility. On-chain data reveals a significant decline in whale activity, with inflows from the top 10 wallets to exchanges dropping to 135,573 ETH. This reduction suggests a more cautious stance among large investors, potentially lowering selling pressure.
While Ethereum is below key moving averages, indicating a bearish trend, the recent bounce from below $2,000 suggests short-term relief. However, the $2,100-$2,200 range remains critical. A sustained move above this area could signal a test of $2,400, while a breakdown could lead to further declines.
