Ethereum Stuck in Sideways Range as Dormant Whale Sells $5M

Ethereum has been struggling to surpass the $2,000 mark, and recent market activity suggests selling pressure is building. A dormant ICO whale recently moved $5 million worth of Ethereum after 11 years of inactivity.

This movement hints at possible selling pressure, which may be influencing Ethereum's price recovery attempts. Long liquidations have also spiked, indicating some traders are exiting positions.

However, buying activity continues to rise, as indicated by the Accumulation/Distribution indicator. The price remains stuck in a sideways range between $1,830 and $1,950, with potential breakout above $2,000 or a drop to $1,550 possible next moves.