Ethereum Price Drops to $4,300 Amid Whale Buying: Is $5,800 the Next Target?

Jakarta, Pintu News – According to TronWeekly, Ethereum (ETH) is in the spotlight after heavy whale activity and crossing important technical levels, indicating that significant price movements may be on the horizon.

As of today, Ethereum was trading at $4,318, having corrected 2.80% in the last 24 hours.

Ethereum Price Drops 2.80% in 24 Hours

On August 18, 2025, Ethereum traded around $4,318 (approximately IDR 70,124,764), marking a 2.8% decline over the past 24 hours. During this period, ETH reached a low of IDR 70,104,104 and a high of IDR 74,132,654, reflecting notable price fluctuations.

As of writing, Ethereum’s market capitalization now stands at around IDR 8,543 trillion, with daily trading volume rising 60% to IDR 501.53 trillion in the last 24 hours.

Read also: These 3 Cryptocurrencies are Catching Whale Attention This Week!

Whale Accumulates Ethereum

Blockchain data shared on X (formerly Twitter) by the account ‘WHALE EVERYTHING’ shows that an unknown whale made a big move.

Reports suggest that this entity created three new wallets and purchased 92,899 ETH, worth approximately $412 million. This scale of accumulation often attracts attention, as it could be an indication of increased confidence in Ethereum’s future price movements.

Ethereum Maintains Key Support Levels Ahead of Potential Breakout

Meanwhile, analysts from More Crypto Online highlighted an important support level for ETH. According to his observations, $3,370 remains a crucial level that must be maintained for ETH to continue its next rise.

If the price holds above this area, ETH has the potential to reach $5,800. However, a drop below this mark could signal that momentum is starting to weaken.

The combination of whale activity and key technical levels fueled speculation that ETH is preparing for a bigger price move.

With institutional demand on the rise and on-chain activity on the rise, attention is now on whether ETH is able to maintain its position and push the price to new highs.

Ethereum Derivatives Show Diverse Momentum

The Ethereum derivatives market is currently showing mixed signals, with open interest rising slightly while trading volumes have fallen sharply.

Read also: 3 Cryptos to Watch Ahead of Crypto Bull Run, Why?

The latest data noted that open interest increased by 1.92% to $63.71 billion, indicating that investors remain active in the market despite the recent high volatility.

On the other hand, trading volume fell by -50.47% to $71.16 billion. This shows that while most investors continue to hold open positions, fewer are making active trades, signaling a decline in short-term activity in the derivatives market.

For the funding rate, the OI-weighted rate stood at 0.0060%, reflecting a very slight bullish bias. This means that investors holding long positions are willing to pay a premium to maintain their positions, but market sentiment is not significantly skewed to one side.

Overall, ETH derivatives statistics show a cautious yet stable picture. With open interest remaining strong and the OI-weighted rate positive, investors seem poised for a gradual rise, although the sudden drop in trading volume signals lower short-term trading interest.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• TronWeekly. Ethereum Whale Activity Fuels Hopes for $5,800 Price Target. Accessed on August 18, 2025