Ethereum Rally Pauses as Investors Move to Self-Custody
Key Notes
- ETH price falls nearly 4% in 24 hours, now trading around $2,567.
- Ethereum loses $13 billion in market cap during the latest pullback.
- Over 1 million ETH withdrawn from exchanges, signaling long-term holding sentiment.
After surging from the $1,800 level to a high near $2,700 within a week, Ethereum’s impressive rally is finally cooling off. At the time of writing, ETH
ETH
$1 845
24h volatility:
2.6%
Market cap:
$222.72 B
Vol. 24h:
$14.22 B
is trading around $2,567, down nearly 4% in the past 24 hours.
According to CoinMarketCap, this pullback has wiped off around $13 billion from Ethereum’s market capitalization. While short-term traders are beginning to grow cautious, long-term holders remain undeterred.
On-chain data shared by analyst Ali Martinez reveals that over 1 million ETH, worth about $2.5 billion, have been withdrawn from exchanges over the past month.
Nearly 1 million #Ethereum $ETH have been withdrawn from exchanges in the past month! pic.twitter.com/dOypSQXgsA
— Ali (@ali_charts) May 15, 2025
This movement suggests a strong inclination toward self-custody and long-term holding, hinting at an incoming supply shock. Historically, such trends have led to major upward price moves.
This shift in sentiment coincides with Ethereum’s Pectra upgrade, which went live on May 7. The upgrade sparked a 50% ETH price rally and reignited institutional interest.
Still, Ethereum faces several challenges, including lagging adoption relative to Bitcoin, declining developer engagement, and rising competition from emerging blockchains.
ETH Price Outlook
On the daily ETH price chart, the RSI has slipped from the overbought territory above 70 and currently reads around 69 — still bullish, but suggesting that further upside may be limited in the near term unless renewed buying pressure emerges.
ETH price chart with RSI and Bollinger Bands | Source: TradingView
Meanwhile, Ethereum recently touched the upper Bollinger Band near $2,700 and is now pulling back toward the midline (20-day SMA) around $2,090. This hints at short-term consolidation. A break below the $2,450 support could trigger further declines toward the $2,250 level.
A decisive close above the $2,650 resistance would revive bullish momentum.
Interestingly, the ETH 4-hour chart appears to be forming a bull flag pattern, with flagpole extending from early May’s $1,700 bottom to the $2,700 peak. The upper boundary of the consolidation zone lies between $2,600 and $2,650.
Potential bull flag pattern on ETH 4-hour chart | Source: Trading View
A breakout above this band would confirm the bullish flag, resulting in a potential rally above $3,600.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
