Whales' Conflicting Positions Weigh on Ethereum Price at $2,400

Ethereum's price has stalled near $2,400 as conflicting signals from whales have left traders uncertain about the asset's future. According to CoinMarketCap, Ethereum is trading at around $2,380, down a modest 1.47% on the daily chart.

The drop comes as two large Ethereum holders have taken opposing positions. One whale opened a significant long position worth $44.85 million, while another moved $253 million in ETH to exchanges, sparking concerns about additional selling pressure.

Derivatives traders remain optimistic, with Binance's Taker Buy/Sell Ratio indicating aggressive sell orders outweighing aggressive buy orders. However, the Relative Strength Index (RSI) has dropped to 60.81, suggesting Ethereum's price momentum is weakening.