According to reports from AMBCrypto, Ethereum has closed at lower lows since facing rejection at $2466, dropping to a low of $2252 before trading at $2,271, down 2.55% on the daily chart at press time. The altcoin has experienced significant volatility with $120 million in positions liquidated, with $102 million in long positions according to CoinGlass data. Despite the pullback, the Derivatives Taker Buy Sell Ratio turned positive again, signaling a comeback by buyers after dropping below 1 to reach a three-week low of 0.9. The metric has since bounced back above 1 to 1.022 at press time, suggesting that traders, including whales, have begun opening new positions again.
As reported by AMBCrypto, a Matrixport-linked whale wallet opened a 44,000 ETH long position valued at approximately $100 million after Ethereum dropped to $2.2. The whale, who previously cashed out over $398 million with a profit of $68.47 million, has re-entered the market with this substantial position. However, the position is currently down $722k and has spent over $5k in funding due to the extreme market volatility. This whale opening a long position signals bullishness as they eye a trend reversal, despite most market participants continuing to short the market.
According to CryptoQuant data cited by AMBCrypto, over 1.1 million ETH flowed out of exchanges while 956k ETH entered exchanges on April 17th. This resulted in Exchange Netflow dropping to a monthly low of -160k ETH, with the trend continuing at press time to -28.5k ETH. The Exchange Supply Ratio (ESR) dropped to 0.125, hovering near a monthly low, suggesting most traders are buying and historically indicating reduced supply and strengthening upside momentum. However, Funding Rates have remained negative for four consecutive days, with negative funding suggesting that the majority are bearish and expect prices to fall, indicating that while new positions are opening, rising demand in futures remains insufficient for a short-term rebound.
As reported by AMBCrypto, ETH sits below the Moving Average of Moving Averages (MaMA) at $2272 and the positive Feedback Band at $2317, suggesting that the trend is slowly losing upside momentum with bearish momentum strengthening. The Directional Imbalance Index shows bulls still dominate the market with bullish pressure at 68% and bearish pressure at 31%. If bull pressure remains elevated, ETH will flip MaMA at $2,270 and move above the Positive Feedback Band at $2,317, potentially strengthening the altcoin towards the upper band of the MaMA-EMA at $2.4. However, if recent weakness persists, ETH will breach the Negative Feedback Band at $2210 and drop to $2170. The analysis suggests the market remains at a decision point with strong bullish pressure still present despite short-term weakness.
As reported by AMBCrypto, Aztec Network has been aggressively selling its Ethereum holdings over the past three months. In December 2025, the team sold 1.5 billion AZTEC tokens for 19,388.4 ETH, worth approximately $59.13 million. Of these tokens, 4,235 ETH, worth $12.93 million, was added to the liquidity pool, while the remaining 15,154 ETH, $47.25 million, has been fully sold over the past three months. According to Lookonchain, the team offloaded 5,020 ETH worth $12.33 million, effectively exiting the market to take profit and finance operational costs while supporting the liquidity pool.
