Ethereum: Whales continue to rally – will price remain above support?

Ethereum: Whales continue to rally – will price remain above support?

On October 24, 2025, the Ethereum price prediction shows both significant activity from investors and challenges in the market. The current price of Ethereum (ETH) is $3,820, an increase of 2% compared to the previous day. Despite this positive development, prices are under pressure to hold the support at $3,815 after the 100-day exponential moving average (EMA) line acted as resistance.

Over the past few days, Ethereum whales have accumulated over 200,000 ETH, bringing their total holdings to over 22.31 million ETH. However, smaller holders holding between 100 and 10,000 ETH have distributed around 140,000 ETH, indicating a possible redistribution in the market. These movements are particularly notable given the general market situation, where both the number of active addresses and the number of transactions have decreased since October 17th.

Market analysis and technical indicators

The trends that have emerged in network measurements are concerning. The weekly average number of active addresses is under 400,000, while the transaction count is under 1.5 million. At the same time, open interest in the derivatives market has remained low, without exceeding the 11.5 million ETH mark since October 10.

Another critical aspect is futures liquidations, which reached $115.9 million in the last 24 hours. This includes $62.8 million in liquidations from long positions and $53.1 million from short positions. Over the next few days, it is expected that if ETH fails to maintain the support at $3,815, it could slide to near-term support at $3,660 and further potentially to $3,470 should the 200-day EMA break.

Market sentiment and outlook

The market is showing cautious sentiment, as evidenced by the increase in the 7-day average of exchange netflows from -47,000 ETH to 9,200 ETH. This indicates an increase in deposits compared to withdrawals on the exchanges. Nevertheless, market news remains tense as both the Relative Strength Index (RSI) and the Stochastic Oscillator (Stoch) are below neutral levels, indicating bearish price action.

To resume the uptrend, ETH needs to convert the resistance at $4,100 and the 50-day EMA into support. The coming days will be crucial in observing whether Ethereum can hold these support levels or if a deeper correction is imminent.