Ethereum continues to consolidate near the two thousand five hundred dollar level as distribution from smaller wallet holders weighs on price action. Market participants noted that retail selling pressure managed to outweigh the optimistic accumulation coming from larger institutional holders and exchange-traded funds over the past week.
Data compiled by CryptoQuant indicates that investors holding between one thousand and ten thousand tokens offloaded two hundred fourteen thousand coins during the previous week. This marked the second consecutive week of distribution from this particular cohort, who initially began reducing their positions after prices approached their average on-chain cost basis of two thousand two hundred sixty-five dollars.
A similar pattern emerged among smaller participants holding between one hundred and one thousand tokens, as they depleted their collective balances by ninety-three thousand coins. Combined with the larger retail bracket, these groups offloaded a total of three hundred seven thousand tokens, creating a persistent overhead barrier.
Meanwhile, whales holding between ten thousand and one hundred thousand tokens moderated their acquisition pace, adding just eighty-two thousand tokens last week compared to previous periods. Inflows into United States spot exchange-traded funds also eased significantly to two hundred eighteen million four hundred thousand dollars from eight hundred twenty-four million dollars the prior week, according to SoSoValue tracking.
Technical indicators show the asset maintaining a constructive structure on daily timeframes, holding above key moving averages while the relative strength index hovers near sixty-four. Market liquidations over a twenty-four-hour window reached thirty-nine million five hundred thousand dollars, reflecting active trading across derivatives desks.
