Ethereum’s price is under pressure as it struggles to find its feet after being rejected from an ATH, with whales shifting to exchanges. What’s next for the ETH USD price?
Ethereum started the week under renewed scrutiny as long-dormant wallets sprang back to life, adding a layer of uncertainty to already fragile price action.
Critical Week Ahead for $ETH & Markets
If Ethereum can reclaim the $4,550–$4,571 zone, a new ATH could be right around the corner.
For now, support sits at $4,240–$4,190.But the bigger picture is Key events this week could shake both Crypto & Macro:
• Monday – Trump &… pic.twitter.com/UbKG185JGc
— Dariusz Kowalczyk (@darekinvest) August 18, 2025
Blockchain data from Arkham shows one early Ethereum ICO participant moved another 4,460 ETH, worth $19M, to Kraken on Sunday.
The same address transferred nearly 9,803 ETH ($43.9M) over the past week, reducing its holdings to 197 ETH.
Additional transfers included tranches exceeding $5M each, all coinciding with Ether’s failed attempt to reclaim its 2021 all-time high of $4,878.
While such deposits are often seen as potential sell pressure, there is no confirmation that coins were liquidated immediately.
The reactivation of early wallets has drawn comparisons to last month’s $9Bn Bitcoin move from a Satoshi-era address, which proved largely symbolic.
ETH USD Buoyed By Institutional Demand: ETHZilla Rebrand Continues Bidding
In parallel, institutional positioning continues to expand. Nasdaq-listed ETHZilla, backed by Peter Thiel’s Founders Fund and over 60 institutional investors, announced its rebrand and confirmed holdings of 94,675 ETH, valued at $419M.
With an average acquisition cost of $3,900, ETHZilla sits comfortably in profit and is pursuing a yield-enhanced treasury strategy designed to outperform vanilla staking returns.
The company’s $565M capital raise highlights ongoing demand for structured ether exposure through public-market vehicles, echoing the role of MicroStrategy in bitcoin markets.
Ethereum Price Analysis: Is ETH USD Heading Back Down to $4,000?
As Ethereum struggles to find a secure footing, it is currently trading at a market price of $4,326 (representing a 24-hour change of -3.33%).
This comes following a tumultuous rejection from ATH resistance last week, which sent the Ethereum price tumbling to lower support around $4,475 – a level ETH USD now appears to be losing.
(ETHUSD)
If ETH USD heads lower from here, the next consolidation attempt’s likely target is the 20DMA and psychological pricing at $4,000.
A successful foothold here, much to the hope of Ethereum bulls, could set the stage for a second re-test of ATH resistance, especially in the face of sustained treasury accumulation from figures such as Thiel.
However, a breakdown from this level could be ugly, with lower support in the event of a sell-off likely to be found at around $3,500.
Some clues emerge from the RSI indicator, which is reflecting the perilous ETH USD position at a bearish 60 reading. This suggests further downside on the short-time frame is required for price action to find the capacity for an upside move.
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