Ethereum whales demonstrated strong accumulation with buy volume reaching $9.41M vs $6.17M sell volume over 24 hours and net inflows of 88.89K ETH over 7 days.
ETH's volatility has stabilized at 15.47% after peaking at 81.61%, suggesting a potential market bottom formation.
Price recently declined below $2,350 support level, with bearish signs and consolidation around $2,220.
Technical indicators point to increased selling pressure, with key support levels at $2,120 and major resistance at $2,260.