Ethereum adjusted by more than 2% over the past 24 hours, briefly falling below $4,500 before rebounding above $4,600. This decline occurred amid a broader cryptocurrency market downturn that lost over $240 billion in value and triggered nearly $1 billion in liquidations.
However, despite strong selling pressure, Ethereum's on-chain and technical signals still suggest buying momentum remains prevalent.
Second Highest Exchange Inflow in the Year... Signal of Selling Pressure
On August 14th, Ethereum saw 2,594,168 ETH moved to exchanges, recording the second-highest single-day exchange inflow in 2025, following the surge of 3,264,688 ETH on February 3rd.
Exchange inflows typically indicate potential selling pressure and were partially triggered by the Ethereum Foundation wallet, which has been one of the largest sellers recently.
The #EthereumFoundation-linked wallet(0xF39d) sold another 1,300 $ETH($5.87M) at $4,518 ~11 hours ago.
โ Lookonchain (@lookonchain) August 15, 2025
Over the past 3 days, this wallet has sold a total of 6,194 $ETH($28.36M) at an average price of $4,578.https://t.co/4hfCWymHVG pic.twitter.com/ErUyEY8SJy
Historically, peaks in high inflow areas have led to price corrections. In early 2025, Ethereum's price was in a downtrend, and each peak in exchange inflows led to larger declines.
The situation was different on July 18th (2,381,361 ETH) and August 12th (2,335,642 ETH). Recent inflows occurred during an uptrend, with strong buying momentum offsetting selling pressure. This buying absorption is a crucial factor in maintaining Ethereum's bullish structure.
Token TA and Market Update: Want more such token insights? Subscribe to editor Harsh Notariya's daily crypto newsletter here.
Large Holder Inflows Absorb Supply with Buying Pressure
Supporting this absorption narrative are large holder inflows. Addresses holding at least 0.1% of total ETH supply continue to show strength. While there was a slight decline on August 13th, the 7-day change is +98.71%, and the 90-day change surged to +255.27%. These wallets are known to accumulate aggressively during dips.
For example, when ETH price dropped from $3,781 to $3,577 between July 31st and August 1st, large holder inflows increased from 240,190 ETH to 687,290 ETH.
Even after short corrections, these inflows continue to record higher highs on the monthly chart. On August 13th, they reached 725,000 ETH and remained stable above 617,000 ETH. This indicates that well-funded buyers are still building positions.
Exchange inflows track coins moving to exchanges, often signaling potential sales. In contrast, large holder inflows measure the amount accumulated by wallets holding at least 0.1% of the supply, indicating buying pressure from major players.
Maintaining Ethereum Price Structure... Bullish Trend Continues
Technically, Ethereum's price remains in an uptrend, with the $4,480 zone acting as strong support during recent declines. Immediate resistance is at $4,785, a significant Fibonacci extension level. A daily close above this could open the way to the psychological $5,000 level, precisely $5,175.
The bullish-bearish power indicator remains favorable for buyers, showing that bearish momentum has not been able to take control despite high exchange inflows.
Invalidation of the bullish hypothesis requires a decisive (full candle) drop below $4,480. This would need to be accompanied by continued increases in ETH exchange inflows and a decrease in 30-day large holder inflows. These conditions have not yet been met.
