Ethereum is modestly pressured as analysts balance new whale demand against strong points of resistance. Institutional demand for the currency remains strong, indicating long-term belief in the value. The direction it takes from here depends on whether momentum can break through technical barriers or pull back for regrouping.
At the time of writing, Ethereum is trading at $4,181 with a 24-hour trading volume of $55.50 billion and a market capitalization of $505.14 billion. Over the last 24 hours, ETH has declined by -2.68%, signaling a cooling period after its recent gains.
A well-known crypto analyst, Whale Insider, revealed that the publicly listed company BitMine Immersion expanded its Ethereum holdings by acquiring 264,378 ETH. The acquisition raises BitMine’s total position to 2.42 million coins, giving it control of more than 2% of Ethereum’s circulating supply.
JUST IN:
— Whale Insider (@WhaleInsider) September 22, 2025Publicly traded BitMine Immersion buys another 264,378 $ETH, raising total to 2.42 million coins, more than 2% of Ethereum supply. pic.twitter.com/gylGR1QkeJ
According to Whale Insider, the mass accumulation reflects growing institutional confidence in ETH’s long-term value, even amid uncertain short-term market trends.
Technically, another well-known crypto analyst, More Crypto Online, highlighted that the next closest resistance for Ethereum comes between $4,228 and $4,281. For ETH to recover bullish momentum, a breakthrough of this level would be necessary. Otherwise, selling pressure may continue.
That being said, the support level of $4,060 emerges as a notable cushion, offering relief that buyers would enter the market if the spot price tests this area.
Between whale demand and tech hurdles, ETH is at a turning point. The coin can provide the stage for further highs if support holds the line and the price gets past resistance. Currently, the market waits and watches whether whale buying power takes the upper hand over short selling.
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The RSI at 60.21 looks lower than the line of resistance of 64.89, suggesting diminishing speed. The MA Ribbon also indicates some good support points at $3,474, $3,011, and $2,929, which would act as buffers if selling continues.
For the MACD, the blue line continues above the signal line, with the readings of 519.07 and 425.21 retaining bullish momentum. The histogram, however, shows shorter green bars, meaning deteriorating buying power. In this scenario, ETH may see side movement before a second breakout test.
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