Ethereum Price Consolidates Between Crucial Supply Zones

Ethereum (ETH) is trading within a tight range between $1,540 and $1,630. This consolidation isn’t just a coincidence; it’s happening between two major supply zones, with on-chain data revealing that over 7.9 million ETH were bought within this price range. With bulls and bears facing off at these levels, the Ethereum price seems to be at a crossroads.

Low Volatility, But a Big Move May Be Near

In the last 24 hours, ETH moved by just -0.37%, indicating extremely low volatility. But don’t be fooled by the calm, such periods of compression often precede sharp breakouts. If Ethereum breaks out of this current zone, we could see a strong move in either direction. It’s the kind of setup wait for, with many watching closely to see which side will take control.

Technical Structure Remains Bearish As of Now

ETH’s current price action is still trapped inside a descending channel that’s been in place since January 2025. This trendline has kept bullish momentum under pressure, turning back every attempt to rally. Right now, ETH is hovering around the channel’s midline, showing clear indecision.

Unless the Ethereum price manages to break above the $1,630 resistance, the bearish pattern will likely continue. If the sellers take over, the next major support level sits around $1,475, right near the channel’s lower boundary. In other words, bulls have a lot to prove, and time may be running out.

On-Chain Data Highlights Strong Support and Resistance

The IOMAP (In/Out of the Money Around Price) chart gives us more context. It shows that a solid support zone exists between $1,513 and $1,585, where 6.6 million ETH is currently held at a profit. However, there’s also a heavy resistance zone between $1,585 and $1,630, with 7.91 million ETH held at a loss.

This creates fluctuations, with buyers trying to defend their gains and sellers hoping to break even. These clusters suggest the Ethereum price will need a strong catalyst to push past either side.

Whale Activity & Burn Rate: Mixed Signals for ETH

Whale movement gives us a mixed picture. In the last 7 days, large holders increased their positions by 10.76%, showing signs of some quiet accumulation. However, over a 30-day period, netflows dropped sharply by 46.70%, suggesting prior distribution. The longer 90-day view shows a slight positive trend of +1.77%, but it’s not strong enough to call it bullish just yet.

Additionally, ETH’s burn rate, which plays a big role in its deflationary supply, has dropped. The 7-day average fell to just 27.08%, compared to the 90-day average of 42.38%, hinting at lower network activity and demand.

Ethereum Price at a Critical Juncture

All signs suggest that the Ethereum price is preparing for a major move. But the current structure still favours the bears unless bulls can step in with strong momentum. A breakout above $1,630 could pave the way for a rally toward $1,860 and beyond. On the flip side, a breakdown below $1,540 might open the doors for investors’ fear. Either way, traders and investors should stay alert, as ETH might not stay quiet for long.