TLDR
- The whale collected 89,396 Ethereum worth $164.88 million over three days
- ETH is down 3.6% in 24 hours, trading near $1,823 at the time of writing.
- US sentiment remains negative despite ETH ETF inflows of $68 million this week
- Active addresses reached their lowest level since December despite a rise in the number of transactions
- Analyst Michael van de Poppe sees ETH heading to $2,200-$2,400 if it holds $1,780
Ethereum is trading near $1,823 after a 3.6% 24-hour decline. The price tried to rebound to $1,944 three days ago but was rejected, falling to $1,819 before a slight recovery.
Despite the decline, whale activity has rebounded. On-chain tracking website Lookonchain reported that two newly created wallets withdrew 20,000 ETH from Coinbase Prime in two batches of 10,000 ETH, worth $37.72 million. The same whale had purchased 30,000 Ethereum worth $57.6 million on July 16, bringing its total price over three days to 89,396 Ethereum worth approximately $164.88 million.
CryptoQuant’s average spot order volume has confirmed large whale orders for seven consecutive days. But the data captured buying and selling, so it confirmed whales’ participation without indicating a clear trend.
CoinGlass data showed that Ethereum’s Spot Netflow remained negative for two days in a row, hitting -$23.6 million versus -$49 million the previous day. Net outflows continued but slowed.
Weak signals below the surface
US ETH ETFs are on track to close the week with net inflows of $68 million from Monday to Thursday. Exchange reserves have also decreased by 253,000 ETH since July 5, indicating that investors are moving coins into self-custody.
ETF Flows: US Cryptocurrency ETF Flows Data Updated (July 17, 2026) Yesterday
🟩 Bitcoin ETFs: +2,065 $ Bitcoin (+$132.30 million)
🟩 Ethereum ETFs: +19,940 $ Ethereum (+$36.73M)
🟥 HYPE ETFs: -90.87K $ hype ($-5.45 million)
🟩 $dawg, $link, $BNB, $avax, $point, $HBAR , $LTC, $XRP, $ sol The flows were zero.Total US… https://t.co/OJCQThZG56 pic.twitter.com/cvNBFllZkp
— CryptoPatel (@CryptoPatel) July 18, 2026
But the Coinbase Premium Index, which tracks US buyer sentiment, remains in negative territory. Active addresses on the Ethereum network fell to the 14-day simple moving average of 397,000 – the lowest level since December – even as the number of transactions reached a new high of 2.65 million.
The total accumulated ETH has reached a record high of 40.93 million ETH. However, most of this growth has come from a single entity, treasury firm BitMine Immersion, which has invested 4.9 million ETH since December.
Price levels to watch
The Balance of Power indicator decreased from 0.93 to -0.61, indicating that sellers are in control of the short-term price action.
On the daily chart, Ethereum It is settling above the 20- and 50-day EMAs at $1,791 and $1,812. The main resistance is at $1909, then $1942 and $2018. Support is at $1,806, with deeper levels at $1,741 and $1,524.
ETH reaching $2,000 in the near future is “incredibly more likely,” said crypto analyst Michael van de Poppe (@CryptoMichNL) on He set his next targets at $2,200 to $2,400, adding that the situation “should not be too complicated.”
It is incredibly likely that we will begin to see $ Ethereum Priced at $2000+ in the near future.
The asset is on a new uptrend and is turning over previous resistance levels for support.
I don’t think things have to be so complicated, and at lower time frame levels, it is clear… pic.twitter.com/h7OAoppiec
— Michael van de Poppe (@CryptoMichNL) July 18, 2026
ETH recorded $91.4 million worth of liquidations in the last 24 hours, including $61 million from long positions.
