- Arthur Hayes sold 6,000 ETH at loss near $1,690 price level.
- Whales accumulated over 17,000 ETH around Ethereum’s key support zone.
- ETH remains range-bound between $1,500 and $1,800 with weak momentum signals.
Arthur Hayes surprised traders after reducing a large Ethereum position at a loss this week. Blockchain records tracked by Lookonchain showed a rapid shift in trading behavior that contrasted with previous accumulation activity. Market watchers noticed mixed signals as large holders reacted differently near the key price zone. Some wallets added exposure while others stepped back, creating tension across Ethereum markets as price action hovered around critical support range near $1,700 in the recent sessions phase.
Hayes Offloads ETH While Buyers Step In
On-chain data revealed Arthur Hayes sold 6,000 ETH at lower average price levels. Lookonchain reported acquisition near $1,793 per ETH across recent transactions. Exit price averaged around $1,690, creating a noticeable gap between entry and exit levels. Market participants estimated roughly $606,000 loss from wallet tracking data. Large holders continued accumulation near the same support region despite Hayes exit. K3 Capital withdrew 10,000 ETH from Binance valued near $16.9 million.
A wallet linked to Chun Wang purchased 7,650 ETH worth nearly $12.9 million. Combined flows exceeded 17,000 ETH signaling strong demand around the support zone. Ethereum traded near $1,700 during recent market sessions across major exchanges. Price action remains below April peak above $2,400 showing sustained downward pressure. June low near $1,507 now acts as a deeper support reference level. Daily chart shows ETH near 78.6% Fibonacci retracement around $1,703.
Liquidity clusters form between $1,780 and $1,820 according to CoinGlass heatmap data. Large concentration sits near the $1,800 level attracting trader attention. Analyst Team LAMBO described Ethereum market as range-bound between $1,500 and $1,800. A break above the upper boundary could trigger a bullish momentum shift. A break below the lower boundary may extend downside pressure further.
Key Levels and Market Outlook
Traders now watch whether accumulation outweighs distribution across major wallets. Market sentiment remains split between cautious sellers and aggressive dip buyers. Ethereum price action near $1,700 holds key importance for the next direction. Volume trends suggest cautious participation from retail traders during the current consolidation phase.
Weeks ahead likely decide whether breakout or further downside develops. Market structure remains sensitive around liquidity zones and macro uncertainty. Traders remain extremely highly alert. ETH continues trading within a tight range between $1,500 and $1,800. Breakout above resistance could attract fresh institutional inflows quickly.
Failure to hold support may trigger accelerated selling pressure. Liquidity map shows clustered orders near the $1,800 region on exchanges. Short-term traders monitor RSI and MACD for confirmation signals. Momentum remains weak until sustained buying pressure returns. Market participants continue reacting to whale accumulation and Hayes exit.
