ETH has absorbed $800 million in selling over the past week, but is still on track to break resistance.

$ETH The market absorbed $800 million in selling last week alone. Part of the recent sell-off was due to the famous whale; $ETH Still, sentiment improved.

$ETH It is currently just below the key resistance level around $2,300, which could trigger further expansion into the $2,400 range. Despite recent sales from Whale wallets, the token has grown and absorbed $800 million in the last week.

$ETH It expanded over the past week even as it absorbed $800 million in sales from whales. |Source: CoinGecko.

Ethereum’s fear and greed index is 67 pointsmeaning greedy for the first time since January. $ETH Open interest also increased to levels not seen since early 2026, topping $14 billion for the first time in several months.

Following the recent recovery in the overall market, $ETH The pessimism was shown to be unfounded and the token quickly returned to high demand.

$ETH Whales are repositioning to improve average prices

Recent whale sales do not necessarily mean whale abandonment $ETH. During past bull cycles, whales rebalanced their portfolios to achieve lower average prices. $ETH Whales have shown they may be here to stay, using the token as a staking passive income source.

As a sign of long-term interest, the Ethereum validation queue still has over 3 million queues left $ETH The average wait time to start as a validation node is 52 days. No sign of whales will end Beacon chain contract. 31% or more $ETH A total of 37.7 million is at stake.

As the Ethereum ecosystem matures, panic selling as well as large chain liquidations have become less common. some $ETHBase loans have led to liquidations or forced sales, but overall; $ETH Maintain great trust over the long term.

long term $ETH With only 38% of the supply holding unrealized gains, holders may be facing price pressure. However, recent market conditions have shown that Ethereum can absorb selling, and some whales intend to hold.

amount of $ETH Strategic reserves are the largest 7.27 million $ETHmore than 6% of the supply. bitmine I kept buying more $ETH Last month, it held 4.5 million tokens and currently holds ~75% of its target funding.

$ETH Gatherings boost DeFi activity

$ETH High price points are still beneficial for DeFi activities. Large liquidation clusters currently cost approximately $1,891 per transaction. $ETHmainly affects compound loans.

The current breakout is above $2,300, so there is no danger of a fall into the lower range. The value held in the Ethereum ecosystem has expanded to $59 billion from recent local lows, while DeFi is generally pegged at $99 billion.

$ETH remains the backbone of DeFi lending, recording over 2 million transactions every day, which is close to an all-time high. The network’s long-term outlook has resulted in foreign exchange reserves at a record low of just 15 million. $ETH. whale I am also moving to buy $ETH Lower the price and withdraw from the exchange.