Hedge Fund Dumps Ethereum for Solana as ETH Worth Drops 50% YTD…

This transfer confirms that consumers are defending the triangle construction. The important thing breakout stage is round $1,635. If ETH closes above this resistance, the subsequent goal sits close to $1,932. This goal comes from the peak of the triangle projected upward.

The RSI has bounced close to the impartial 50 stage, indicating a shift in momentum towards the bulls.

Nevertheless, Ethereum nonetheless faces one other main hurdle: the 200-EMA close to $1,756. A clear break above $1,635 and $1,756 would enhance the prospect of ETH retesting $2,000 earlier than the tip of April.

ETH Whales Are Nonetheless Accumulating

Regardless of the latest selloff and Galaxy Digital’s rotation into Solana, not all massive gamers are exiting Ethereum.

In keeping with Glassnode information, addresses holding between 1,000 and 10,000 ETH — typically categorized as whales — have steadily elevated since early 2024. The provision held by these wallets has risen from multi-year lows under 12 million ETH to over 13.5 million ETH as of April 2025.