TLDR
- The ETH Realized Price Lower Band sits near $1,150, pointing to a possible 30% further decline
- US spot ETH ETFs recorded $82.3 million in outflows on Tuesday, heading for seven straight weeks of negative flows
- a16z withdrew $42.62 million worth of ETH from Binance on June 23
- Tom Lee’s Bitmine purchased 35,138 ETH worth $58.65 million, adding to $92 million bought the prior week
- Analyst Ted Pillows says sellers are capping rallies above $1,700 and new lows are possible unless ETH reclaims that level
Ethereum is trading around $1,615, down more than 3% on Wednesday, as selling pressure continues across multiple metrics.
A key onchain tool called the ETH Realized Price Lower Band currently sits near $1,150. In past bear markets — 2018 and 2022 — ETH found its bottom around this level. That puts a potential further drop of around 30% on the table if the pattern repeats.
Crypto analyst Ted Pillows flagged the weakness on social media, writing that sellers are active above $1,700 and capping any rally. He said: “Until Ethereum breaks and reclaims the $1,700 level with strong spot demand, the chances of new lows will go up.” His warning aligns with the current technical picture.
$ETH is looking weak here.
Sellers are active above the $1,700 level and are capping any rally.
Until Ethereum breaks and reclaims the $1,700 level with strong spot demand, the chances of new lows will go up. pic.twitter.com/vanZz7qFrq
— Ted (@TedPillows) June 24, 2026
On the price chart, ETH is trading below its 20-, 50-, and 100-day moving averages, which are clustered between $1,740 and $2,050. The RSI is sitting near 34, deep in oversold territory.
If selling continues, support levels are at $1,611, then $1,524, with a stronger floor at $1,404. A break below that would open the door to $1,156.
ETH exchange net flows have been slowly climbing over the past two weeks, a sign that more coins are moving to exchanges — often a signal that holders are preparing to sell.
Institutional Buyers Step In
Despite the weakness, large buyers are active. On June 23, a wallet linked to venture firm Andreessen Horowitz (a16z) withdrew 25,560 ETH — about $42.62 million — from Binance.
Tom Lee’s Bitmine bought another 35,138 ETH worth $58.65 million on the same day. The firm also spent $92 million on 52,203 ETH in the previous week.
🚨LATEST: TOM LEE'S BITMINE JUST BOUGHT ANOTHER $60 MILLION OF ETH
The firm acquired 35,138 ETH over the past 6 hours, lifting its holdings to 5.65M ETH. pic.twitter.com/vbIjNi2Rl0
— Coin Bureau (@coinbureau) June 24, 2026
Sharplink, the second-largest Ethereum treasury company, staked an additional 509 ETH this week, bringing its total staked ETH to 22,102.
Supply Data Points to Long-Term Confidence
Santiment data shows that the largest whale wallets — those holding between 10 million and 100 million ETH — have grown their balances to roughly 135.2 million ETH. Mid-sized holders have also been buying since late May.
Wallets in the 10,000–100,000 ETH and 100,000–1 million ETH ranges have reduced holdings, suggesting redistribution rather than a broad sell-off.
US spot ETH ETF outflows totaled $82.3 million on Tuesday alone. June has seen $346.39 million in outflows, following $540.88 million in May.
