Ethereum top is in? ETH sell-pressure hits $419M, second-highest level ever

The cryptocurrency world never sleeps, and right now, all eyes are on Ethereum (ETH). In the past 24 hours, on-chain market data revealed something that has caught the attention of both seasoned traders and casual investors — Ethereum sell-pressure has skyrocketed to a massive $419 million in just one day. This isn’t just a random market fluctuation; it’s the second-largest daily sell imbalance ever recorded in Ethereum’s history.

But what does that actually mean? In simple terms, it shows that more people are selling ETH than buying it, and they’re doing so in huge amounts. This surge in ETH sell-pressure means sell orders are outnumbering buy orders by a wide margin, often signaling a shift in market sentiment — and sometimes even marking a turning point in the price trend.

For investors, this naturally sparks an important question: Has Ethereum already reached its peak price for this cycle, or is this just a temporary dip before another big rally? The truth is, both possibilities are on the table. Some analysts believe ETH is simply taking a breather after its recent gains, while others warn that such heavy selling could be a sign of a larger correction on the horizon.

Understanding the $419M Sell-Pressure Event

Before we jump into predictions, let’s talk about what this number really means. In simple terms, sell-pressure occurs when there’s significantly more selling than buying in the market. This imbalance can be measured through Net Taker Volume, which calculates how much more traders are selling at market prices compared to buying. 

• Over 115,400 ETH sold net in one day.
  
• Total value of sell orders hit $418.8 million.
  
• This marks the second-largest sell imbalance ever recorded for Ethereum.
  

Historically, such large sell-pressure events have been followed by volatile price action — sometimes a steep correction, and other times a surprising recovery.

ETH Price Faces a Critical Resistance Zone

Ethereum’s price has been climbing steadily in recent weeks, but now it has reached a very important price zone between $3,600 and $4,000. In trading terms, this is called a resistance zone — a price range where the asset has historically struggled to move higher. Think of it like a “ceiling” in the market. Every time Ethereum gets close to this level, sellers step in, and the upward momentum slows down or reverses.

This isn’t just a random number range. The $3,600 to $4,000 zone has been a major turning point in Ethereum’s price history. The last time ETH reached this area was in December 2024. Back then, Ethereum tried several times to push above $4,000, but each attempt was met with heavy selling. Eventually, the price gave up and fell sharply — losing over 66% of its value in the following months.

Because of this history, many traders are now paying extra attention to how Ethereum behaves in this range. If ETH can break above $4,000 with strong trading volume, it could be a bullish signal that the market still has room to grow. But if it fails again, it might trigger another wave of selling, similar to what happened before.

The Bearish and Bullish Scenarios Ahead

Market experts currently see two possible paths for Ethereum over the next few months:

1. Bearish Case — Correction Incoming

If ETH fails to break above $4,000 convincingly, the heavy sell-pressure could push prices lower. Analysts project:

• A drop toward the 50-week EMA (~$2,736) as the first major support level.
  
• A deeper correction to the 200-week EMA (~$2,333) if selling accelerates.
  
• Potential timing: by September or October 2025.
  

2. Bullish Case — Breakout and Continuation

If Ethereum manages to clear $4,000 with strong volume and sustained buying, it could:

• Open the door for a run toward $4,500 and beyond.
  
• Spark renewed interest in altcoins, as ETH strength often boosts the broader market.
  
• Defy bearish expectations by turning resistance into new support.
  

Factors Driving the Current ETH Market Action

Several underlying factors may have fueled this spike in sell-pressure:

1. Profit-Taking by Long-Term Holders — Many investors bought ETH at much lower prices earlier in the cycle and are now cashing out.
   
2. Macro-Economic Uncertainty — Concerns over interest rates, inflation, and global markets often influence crypto sentiment.
   
3. Bitcoin Dominance Surge — Capital may be flowing back into Bitcoin, reducing liquidity for altcoins like ETH.
   
4. Technical Resistance Levels — Traders often preemptively sell near known resistance zones.
   
5. Upcoming Ethereum Upgrades & News — Sometimes, the “buy the rumor, sell the news” effect triggers sell-offs right after major announcements.
   

Conclusion 

The $419M sell-pressure spike is one of the most significant Ethereum events in recent months. It tells us that big money is moving, and the market is entering a critical decision zone. Whether this is the start of a larger correction or just a temporary cool-off will depend on how ETH reacts to the $4,000 resistance level in the coming days and weeks.

For now, traders should stay alert, watch the charts, and remember that in crypto, as experts like Crypto Patel often point out, the trend can change faster than you think.