Ethereum: Will Whale Movements Trigger a Pullback or a Surge Beyond $3,450?

Summary:
Ethereum (ETH) has shown strong performance with a notable price increase of over 12.73% since the year began. However, the recent actions of prominent trader James Wynn, who closed all his ETH and PEPE long positions, have left many in the crypto community speculating about the potential impact on the market. With buying pressure increasing as indicated by the Taker Buy Dominance metric, the question remains whether Ethereum will push through the critical $3,450 level or experience a pullback.

Key Takeaways

Ethereum has gained over 12.73% since the beginning of 2026, showing positive price momentum.
James Wynn, a significant figure in crypto trading, has closed his Ethereum and PEPE positions, which has raised concerns among traders.
The Taker Buy Dominance ratio indicates increasing buying pressure, suggesting a bullish market sentiment.
Ethereum's current price is around $3,333, testing the key resistance level of $3,450.

Ethereum: Will Whale Movements Trigger a Pullback or a Surge Beyond $3,450?

Price Performances and Whale Activity

Ethereum has demonstrated robust strength on the price charts, especially after climbing over 12.73% since the start of the year. Additionally, institutional investments and strong technical indicators have contributed to an optimistic outlook for the cryptocurrency.

However, moves by significant traders, like renowned whale James Wynn, have caught the eye of many as Ethereum approaches crucial resistance levels. Consequently, traders are left pondering: will the price break through, or will it retract?

Whale Movement: James Wynn's Exit

Recently, James Wynn, a prominent figure in the cryptocurrency space, caused a stir on crypto Twitter by liquidating all his long positions in Ethereum [ETH] and PEPE. He also withdrew his funds from the Hyperliquid platform, leaving many traders unsure of his intentions.

Combined Image

Source: X

This move has raised concerns among traders, especially given Wynn's history involving substantial trades that often led to notable losses. As a result, many are now contemplating whether to follow his lead, take profits, or remain invested in Ethereum's bull run.

Increasing Buying Pressure in the Market

Since the start of 2026, the Taker Buy Dominance ratio has been on an upward trend, indicating a rise in buying pressure within the Ethereum market. This metric reflects market demand, showing that buyer activity is outpacing sellers.

Ethereum Spot Taker CVDCumulative Volume Delta

Source: CryptoQuant

The increase in Taker Buy Dominance signifies that market sentiment has leaned towards bullishness lately. As this ratio climbs, it suggests that Ethereum has been experiencing more buying than selling, further supporting positive price movements and indicating potential for future appreciation.

Will Ethereum Surpass $3,450?

At the current moment, Ethereum's price is steady at around $3,333 after successfully breaching the $3,300 mark. If it manages to break through the critical resistance level of $3,450, a rally towards $4,000 could be on the horizon.

Ethereum Price Chart

Source: TradingView

The Moving Average Convergence Divergence (MACD) shows a strong reading, and the Relative Strength Index (RSI) is currently at 63.19, indicating that traders should approach with caution. To maintain its bullish trend, the price must stay within the $3,200 to $3,400 range.

If Ethereum fails to break past $3,450, a pullback to lower support levels could occur. Traders are advised to remain vigilant for either a breakout or a reversal as the situation unfolds.

Conclusion

In summary, Ethereum's price behavior is under close scrutiny, especially in light of influential trader James Wynn's recent actions. As buying pressure increases and critical resistance levels are tested, it is crucial for traders to understand the market dynamics and carefully consider their investment strategies moving forward.