Ethereum (ETH) is currently trading above USD 4,400, showing immunity despite the recent sales pressure and market variability. However, the price campaign entered the consolidation phase, and the bulls are fighting to recover higher levels and momentum that seem muted. This fueled speculation on the market because analysts remain divided into the next ETH movement.

Some market participants expect Ethereum to go back below USD 4,000, indicating a weakening rush and lasting resistance near the $ 4,600-4800. They claim that the correction can provide healthier conditions for the next gigantic leg up. On the other hand, more sanguine analysts perceive this consolidation as a startupad for a breakthrough, with ETH potentially exceeding USD 5,000 in the coming weeks, if the demand remains mighty.

Supporting the stubborn case, Cryptoquant data reveals that despite the constant correction of Ethereum after the last highest level of all time, the demand for ETH remains solid. Exchange reserves are still lower when investors withdraw their shares, while onchain’s activities emphasize eternal accumulation. This discrepancy between price variability and basic demand suggests that the foundations of ETH remain solid.

Ethereum’s demand remains mighty despite the correction

According to the analyst Cryptoquant Crypto, Sunmoon Ethereum still shows mighty investors’ interest despite the last price correction. After reaching recent ups of all time, ETH entered the consolidation phase, retreating from the peak levels. However, unlike many assets, which usually relate to decreasing demand during corrections, the foundations of Ethereum show a different picture.

Data He emphasizes a clear discrepancy between Ethereum and Bitcoin Reserves on Binance. While the bitcoin reserves remained relatively stable, the Ethereum reserves showed a lasting trend down. This coherent outflow indicates that market participants actively withdraw ETH from the exchange, which is a common sign of accumulation. Investors seem more likely to store Ethereum in private portfolios or implementing it in decentralized finances (DEFI), reflecting the growing trust in its long -term potential.

This trend is also in line with the wider capital rotation from Bitcoin to Ethereum, which has developed in recent weeks. Reports about whales transferring billions to ETH have repeatedly appeared, strengthening the narrative that a gigantic player positions another vital Ethereum movement. Even when miniature -term variability presses on the price, the dynamics of demand suggests that institutional interest and whales are not only intact, but grow.

For many analysts, this discrepancy between stable Bitcoin reserves and falling Ethereum reserves the leadership of Ethereum in the current market cycle. While BTC remains a reference point for Crypto, the role of ETH as Defi’s foundation, layer 2 and institutional adoption still attracts capital.

Ultimately, the Ethereum demand resistance during the correction phase signals the strength under the surface. If the accumulation maintains, the consolidation period can prepare the ground under the next break of Ethereum, potentially exceeding prices towards 5000 USD and more.

Price analysis: Maintaining key support among consolidation

Ethereum (ETH) currently trads around USD 4,440, maintaining above key support levels despite recent variability. The chart shows that ETH consolidates after recovering from the last highest all time near the region 4,900 USD. Importantly, the 50-day moving average (blue line) still acts as immediate support, strictly in line with the current trading zone.

The price action reflects indecision when the bulls are trying to defend the zone 4400–4300 USD, which has now become an area of ​​critical demand. The division below this range may expose ETH to further declines towards the psychological level of USD 4000 and 100-day average movable (green line), which would serve as another support layer. On the other hand, recovery of a momentum above USD 4,600 can pave the way to the next test of the region 4800–5000 USD.

From a technical point of view, the consolidation phase seems constructive, because ETH still trads above the 200-day average average (red line), emphasizing the strength of its long-term stubborn structure. While the pressure for sale remains evident, the basics and the latest trends of whaling accumulation are a supportive background. The upcoming sessions will be decisive, with ETH will require maintaining current support levels to prevent deeper reconstruction and configured to the next breakthrough attempt.

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