Ethereum’s spot trading volume has noticeably decreased as its price struggles to breach the $1,805 resistance, signaling a pivotal moment for market participants.
-
Ethereum’s spot volume cooled, while address activity and exchange outflows reflected stronger holder confidence.
-
ETH faced tight resistance at $1,805 amid heavy liquidation clusters and weak momentum.
Despite a cooling of Ethereum’s trading volume, rising address activity and exchange outflows indicate increased confidence among long-term holders.
Modest growth despite price indecision
On-chain metrics showed modest user engagement gains, hinting at improving sentiment. Daily Active Addresses rose to 431.2K, while new addresses surged by 13.40% in seven days.
Zero Balance Addresses also climbed 25.17%, reflecting increased wallet creation and user interaction. This uptick comes even as price remains sluggish, suggesting users are cautiously re-engaging with the network.
Therefore, although ETH lacks bullish explosiveness, address stats point to growing on-chain participation, possibly laying the groundwork for stronger accumulation.
Source: IntoTheBlock
ETH struggles to clear $1,805
Ethereum broke out of its multi-month descending channel and had started testing resistance near $1,805. At the time of writing, ETH traded at $1,804.27, down 0.86% in the last 24 hours. This level aligned with the 0.236 Fibonacci retracement, creating a decisive barrier.
However, the breakout from the downtrend marked a notable technical shift. The RSI was 53.80, holding above neutral but still lacking aggressive momentum. A clear push above $1,805 could revalidate bullish continuation, though sellers remained active at this zone.
Source: TradingView
Ethereum holders avoid selling pressure
Supply on exchanges has dropped sharply, hitting 8.05 million ETH. This continued downtrend reflected sustained accumulation and reduced intent to sell, often seen as a bullish long-term signal.
Throughout 2025, the chart revealed consistent outflows with few inflow spikes, showing conviction among holders. While short-term price action remained capped, the lack of exchange supply limits sudden dump risks, supporting price resilience if demand gradually recovers.
Source: Santiment
Liquidation heatmap reveals heavy tension
The Binance ETH/USDT heatmap highlighted a tight liquidation band between $1,775 and $1,830. This zone has repeatedly absorbed both long and short liquidations, confirming it as a high-stakes battleground.
The price now traded near the lower edge, risking further liquidations if downside pressure continues. However, if bulls manage a sustained break above $1,830, it could trigger cascading short liquidations.
Source: Coinglass
Conclusion
Ethereum’s declining spot volume, consistent exchange outflows, and a steady rise in address activity signal a stabilizing market. These factors suggest reduced sell pressure and growing confidence among long-term holders.
However, the strong resistance around $1,805 and persistent liquidation clusters near current levels may continue to cap upward momentum. Therefore, ETH must attract stronger demand and decisively flip this resistance to confirm a sustainable bullish reversal.
