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Ethereum whales buy 510K ETH after price dips below $1,600, eyeing $2,000 resistance next.

Technical Signals
17 Jun 2026
Blockonomi
View Source
Neutral
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Ethereum's price recently dipped below $1,600, prompting major holders (whales) to accumulate 510,000 ETH tokens since June 5, helping the price recover to around $1,783-$1,790. Despite subdued retail and U.S. institutional interest, the total ETH held on exchanges has fallen to a historic low of 14.5 million, indicating reduced selling pressure. Technically, Ethereum faces resistance at the 20-day EMA near $1,796 and must reclaim $2,000 to confirm bullish momentum, while losing support at $1,750 could lead to a drop toward $1,550. The market is closely watching these key price levels for the next directional move.

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