TLDR
- Ethereum whales have added 510,000 ETH since ETH dropped below $1,600 on June 5.
- ETH is trading around $1,783-$1,790, struggling to reclaim the 20-day EMA at $1,796.
- Institutional demand in the United States remains weak; Spot ETH ETFs saw inflows of just $22.5 million after four straight days of outflows
- The ETH exchange supply has fallen to an all-time low of 14.5 million ETH
- $2000 is the key level that the bulls need to break; Failure to hold $1,750 could push the price towards $1,550
Ethereum is trading at between $1,783 and $1,790 at the time of writing, down approximately 2.5% over the past 24 hours. The price has recovered from a decline towards $1,500 earlier this month but is still stuck below the major moving averages.
Large holders of ETH, known as whales, have been buying during the recent period of weakness. Wallets holding between 10,000 and 100,000 ETH have added about 510,000 ETH since June 5, when the price approached $1,500. This buying helped push ETH back toward the $1,800 region.
Retail investors did not follow. Wallets holding between 100 and 10,000 ETH saw minimal changes over the same period. Smaller stockholders appear to be sitting on the sidelines.
Analyst Ted, known on X as @TedPillows, commented on the setup. He noted that ETH is still holding above the $1,700-$1,750 support zone, and suggested that if this level holds, Ethereum could see another rally towards $1,900. His view is consistent with what many chart analysts observe as the short-term stimulus level.
$ Ethereum It remains stable above the $1,700-$1,750 level.
If this area holds, Ethereum price could rise again towards the $1,900 level. pic.twitter.com/Ic5jMm8Wr3
– Ted (@TedPillows) June 16, 2026
Institutional demand remains weak
Demand in the United States has not kept pace with whale activity. The Coinbase Premium Index, which tracks US buyer sentiment, improved slightly but remains below neutral. US Ethereum ETFs recorded $22.5 million in net inflows recently, but that came after four straight days of outflows. The products have only seen three days of flow since March 8.
Despite the weak sentiment, ETH hit a record high of 39.83 million ETH, showing that long-term holders are not moving their coins.
ETH exchange supply has also dropped to a historic low of just 14.5 million ETH across all exchanges. Low supply on exchanges can mean fewer coins available for sale, increasing sell-side pressure.
Key levels to watch
On the charts, Ethereum It lies below the 20, 50, and 100-day moving average, which ranges between $1,800 and $2,115. The 20-day EMA at $1,796 is the first hurdle. Above that, resistance lies at $1909, $1962, and then $2019.
Analysts point to $1,900-$2,000 where ETH should reclaim the range to exit the current recovery phase. If the bulls break $2000 aggressively, the next targets are $2500 and then $2700.
On the downside, support is at $1,741, then $1,524. A drop below these levels could open a move towards the $1,400 area, an area that served as a strong accumulation base in April last year.
The RSI is near 45, indicating that the selling pressure is fading but the momentum has not turned to the upside yet.
ETH exchange supply remains at all-time lows is the latest data point, with on-chain metrics continuing to show supply tightening even as prices consolidate.
