An Ethereum whale moved 10,300 ETH, worth approximately $19.5 million, off Kraken exchange within 24 hours, followed by another withdrawal of 5,000 ETH worth about $9.53 million. Part of the withdrawn funds, namely 2,020 ETH (approximately $3.84 million), was staked through Ethereum’s Beacon Deposit Contract, reducing immediately available supply on the market. Ethereum was trading near $1,899 at the time of analysis, with $1,960.50 resistance representing the key barrier separating consolidation from further price expansion toward the $2,100 zone. Spot buying and exchange withdrawals created a tighter supply-demand structure, with funding rates remaining positive at 0.003827, indicating a bullish bias among traders. A decisive break above $1,960.50 could open the path toward $2,100 resistance, while $1,735.31 remains a significant support level should the recovery structure fail to hold.
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