Ethereum steadies near $1,850 as whale shifts funds from NFTs to ETH long

Ethereum’s price hovered around $1,850, trading in a tight range after a recent dip below $1,830. Technical analysis noted a symmetrical triangle pattern that could break toward $1,935 if the price sustains a close above resistance.

A large wallet moved roughly $35.4 million worth of ETH, signaling continued accumulation despite fragile momentum. In a separate move, a whale known as Machi sold Bored Ape #5670 at an 89 % loss, converting the proceeds into a leveraged long of about 3,450 ETH valued at roughly $6.44 million. The market showed little reaction, with Bitcoin near $64,100 and ETH almost flat.

These actions illustrate a shift of capital from illiquid NFT holdings back into Ethereum, highlighting confidence among major crypto participants even as broader market sentiment remains cautious.