Ethereum’s stress continues to deepen as three main funding corporations transfer over $40 million price of ETH to exchanges inside 24 hours.
Based on knowledge shared by on-chain analyst The Knowledge Nerd on Apr. 16, inside the final 24 hours, Polychain Capital deposited 5,700 Ethereum (ETH), price round $9.2 million, to centralized exchanges. Galaxy Digital despatched one other 12,500 ETH, roughly $20.3 million, whereas B2C2 added 6,540 ETH price about $10.7 million.
The timing is essential. ETH has damaged below the $1,600 mark, a significant support zone that has now flipped into resistance. Most shifting averages, from the 10-day to the 200-day, are flashing promote indicators. The relative power index is at 38.9, indicating weak momentum however not but in oversold territory. The shifting common convergence/divergence is pointing towards a potential short-term rebound, however total, the market stays cautious.
If ETH fails to reclaim the $1,600–$1,620 zone quickly, additional downside towards $1,500 and even $1,450 is feasible. Nonetheless, a bounce from present ranges may set off a fast reduction rally to $1,700, the place heavier resistance awaits.
On-chain knowledge solely deepens the bearish sentiment. Based on DeFiLlama data, Ethereum’s complete worth locked has dropped from round $70 billion firstly of the 12 months to $46 billion. Month-to-month income additionally fell from $109 million in January to only $7.2 million in March.
The community has been shedding floor to rivals like Solana (SOL), Base, and Tron (TRX), which at the moment are drawing extra customers and income. Even decentralized apps like Uniswap (UNI) are performing higher on competing chains.
U.S. spot ETF outflows add to the priority. ETH ETFs noticed $14 million in outflows on Apr. 15, bringing complete web losses to $158 million over the previous month, in keeping with SoSoValue data.
ETH lost 45% in Q1 2025, its third-worst quarter since 2016. With main gamers promoting and fundamentals weakening, Ethereum’s street to restoration seems to be more and more steep.
