{"id":1580,"date":"2026-03-17T13:56:33","date_gmt":"2026-03-17T13:56:33","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=1580"},"modified":"2026-03-17T13:56:33","modified_gmt":"2026-03-17T13:56:33","slug":"ethereum-climbs-toward-2300-dollars-despite-800-million-dollar-whale-sell-off","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/03\/17\/ethereum-climbs-toward-2300-dollars-despite-800-million-dollar-whale-sell-off\/","title":{"rendered":"Ethereum Climbs Toward 2,300 Dollars Despite 800 Million Dollar Whale Sell Off"},"content":{"rendered":"\n
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Ethereum moved close to 2,300 dollars on March 16, reaching that level for the first time since early February and recording an 8 percent gain within 24 hours.<\/p>\n\n\n\n

This rise occurred even as large holders continued to sell hundreds of millions of dollars worth of ETH. The broader crypto market rally appeared to push ahead despite ongoing geopolitical tensions that have unsettled traditional financial markets.<\/p>\n\n\n\n

Whales Sell During Price Increase<\/strong><\/p>\n\n\n\n

Despite the upward movement, investor confidence has not matched the levels typically seen before a sustained breakout. Data shared by analyst Wise Crypto showed that major ETH holders sold 380,000 ETH over the past seven days, valued at about 800 million dollars. According to the analyst, many of these sellers likely used short term price increases as an opportunity to exit positions, which could limit further upward momentum.<\/p>\n\n\n\n

Their analysis indicates that Ethereum is currently trading between 1,917 dollars as support and 2,338 dollars as resistance. If the price drops below this lower level, it could fall to slightly above 1,700 dollars. On the other hand, if it holds above resistance for a sustained period, it may approach 2,450 dollars.<\/p>\n\n\n\n

The analyst also highlighted that the Market Value to Realized Value long short difference for ETH is deeply negative. This suggests that long term holders may be facing losses while short term traders are making gains. The MVRV ratio compares the current price of ETH with the average price at which coins last moved, offering insight into unrealized profits or losses across the market.<\/p>\n\n\n\n

When short term traders dominate profits, selling pressure often follows quickly.<\/p>\n\n\n\n

Even with these mixed signals, Ethereum gained 13 percent over the past week and traded well above 2,200 dollars at the time of writing. This increase came during a broader market rally that also pushed Bitcoin briefly above 74,000 dollars, marking its highest level in about six weeks. The surge followed a United States strike on Iran\u2019s Kharg Island, a key hub responsible for exporting most of the country\u2019s oil.<\/p>\n\n\n\n

Futures Trading Dominates Ethereum Activity<\/strong><\/p>\n\n\n\n

Separate data from analyst Darkfost shows that while ETH has rebounded in the spot market, derivatives trading continues to dominate its market structure in the short term.<\/p>\n\n\n\n

According to the analyst, the volume of Ethereum futures trading on Binance is now more than six times higher than spot trading volume. The ratio between the two has dropped to its lowest level since the end of the 2023 bear market.<\/p>\n\n\n\n

When futures activity significantly outweighs spot trading, it typically indicates that the market is being driven by leveraged positions rather than steady accumulation.<\/p>\n\n\n\n

Darkfost noted that this reflects underlying weakness in Ethereum\u2019s spot market at present. They added that selling activity from the Ethereum Foundation or even Vitalik Buterin could be contributing to investor caution.<\/p>\n\n\n\n

However, not all analysts expect ETH to remain range bound. Crypto commentator Ash Crypto suggested that a daily close above 2,400 dollars could open the door for a move toward 2,800 dollars.#crypto#cryptonews https:\/\/coinsignals.net<\/a> https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum moved close to 2,300 dollars on March 16, reaching that level for the first time since early February and recording an 8 percent gain within...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1580","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=1580"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1580\/revisions"}],"predecessor-version":[{"id":1582,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/1580\/revisions\/1582"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=1580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=1580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=1580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}