Ethereum Retraces to 21-Week EMA Despite Whale and ETF Flows
Analysts forecast an Ethereum pullback to the 21-week EMA near $3,500 before the uptrend resumes. Despite strong spot ETF inflows of about 286,000 ETH last week and a $1 billion whale buy, chart patterns hint at a temporary retracement. A major whale has purchased and staked a total of $3.5 billion in ETH, tightening supply. Benjamin Cowen’s analysis identifies a historical cycle where ETH briefly retests the 21-week EMA before breaking higher. Traders should monitor the 21-week EMA for support and track ongoing ETF inflows and whale staking to gauge downside limits. This Ethereum pullback presents a potential buying opportunity if key levels hold, while failure below $3,500 may signal a deeper correction. Risk management with defined stop-loss orders remains crucial.
Neutral
The article highlights a likely short-term Ethereum pullback to the 21-week EMA around $3,500, balanced by substantial whale buying and robust spot ETF inflows. Historical patterns observed by analysts like Benjamin Cowen show ETH often retests this EMA before resuming its uptrend. Whale accumulation and staking (≈$3.5 billion) and 286,000 ETH of ETF inflows tighten supply and limit downside. While traders should prepare for a retracement, the strong on-chain demand and technical support suggest any dip may be shallow. This mixed signal—temporary correction versus solid support—points to a neutral near-term impact, with potential bullish implications if key levels hold.