How do whales and on-chain metrics affect ETH's recent risk?
The accumulation pattern of whales shows mixed behavior: some large addresses are accumulating, while others are reducing their holdings. On-chain metrics such as exchange balances, realized volatility, and active addresses do not indicate a systemic liquidity crisis.
The Binance Research commentary (plain text) points out that if the support level of $4,150 is maintained, ETH may rebound and retest the resistance level near the historical high of $4,788; if ETH decisively breaks below $4,150, it could fall towards $3,900. Traders should carefully check the order book depth and derivatives open interest to confirm trading results.
