Ethereum posted a sharp correction over the past week, with cumulative losses exceeding 11%. During that period, whales redistributed roughly 110,000 ETH, according to on-chain data cited by analyst Ali Martinez. The move reduced concentration in large addresses and spread funds across multiple wallets.
ETH lost the $3,000 level and dropped from a daily high of $3,109.93 to a low of $2,901.33. At the time of writing, the price rebounded slightly, posting a modest 0.8% uptick and moving just back above $3,000. Trading volume rose 17% over the past 24 hours, reaching $37 billion.
Ethereum’s pullback coincided with tensions across global financial markets. Following a speech by U.S. President Donald Trump at Davos, part of the capital rotated into assets considered safe havens. In that context, gold climbed more than 2.15%, while the broader crypto market fell around 2.95% over the same period.
On the technical side, the $2,716 level stands out as the next relevant support if Ethereum resumes its decline under selling pressure.
Source: https://x.com/alicharts/status/2013913711724159000
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