On April 29, 2025, a significant market event unfolded in the cryptocurrency space as a prominent whale sold off a staggering 10,511 ETH, equivalent to approximately $19.2 million, at a price of $1,828 per ETH. This transaction was reported and verified by Lookonchain via their Twitter update at 10:15 AM UTC (Source: Lookonchain Twitter, April 29, 2025). The sale, executed on a major exchange, immediately drew attention due to its sheer volume and potential impact on Ethereum's price dynamics. At the time of the sale, Ethereum was already experiencing a mild bearish trend, with the price hovering around $1,830 just hours before the transaction at 8:00 AM UTC, as per CoinGecko data (Source: CoinGecko, April 29, 2025). Within 30 minutes of the sale, by 10:45 AM UTC, the price dipped to $1,825, reflecting a 0.27% decline, likely influenced by the sudden influx of sell pressure (Source: CoinMarketCap, April 29, 2025). Trading volume for ETH spiked by 18% in the hour following the sale, reaching $1.2 billion across major pairs like ETH/USDT and ETH/BTC on Binance and Coinbase, indicating heightened market activity (Source: Binance Trading Data, April 29, 2025). On-chain metrics further confirmed the transaction's significance, with Etherscan showing a transfer of 10,511 ETH from a whale wallet to an exchange hot wallet at 10:10 AM UTC, aligning with Lookonchain’s report (Source: Etherscan, April 29, 2025). This event also coincided with broader market sentiment, as Ethereum’s daily active addresses dropped by 5% to 410,000 on April 29, 2025, signaling reduced network usage (Source: Glassnode, April 29, 2025). For traders monitoring Ethereum price movements and whale activity, this sale serves as a critical data point for understanding potential downward pressure on ETH in the short term, especially given the precise timing and volume of the transaction.

The trading implications of this whale sale are substantial, particularly for investors focused on Ethereum trading strategies and market sentiment. Following the sale at 10:15 AM UTC on April 29, 2025, the ETH/USDT pair on Binance saw an immediate increase in sell orders, with order book depth showing a 22% rise in sell-side volume at $1,820-$1,825 by 11:00 AM UTC (Source: Binance Order Book Data, April 29, 2025). This suggests that other traders reacted swiftly, potentially anticipating further price drops. Meanwhile, the ETH/BTC pair exhibited a 0.15% decline to 0.027 BTC by 11:30 AM UTC, reflecting Ethereum’s underperformance against Bitcoin during this period (Source: Coinbase Pro Data, April 29, 2025). On-chain data from Santiment revealed a 12% spike in large transactions (over $100,000) within two hours of the sale, indicating that other whales might be repositioning their holdings in response (Source: Santiment, April 29, 2025). For retail traders, this could signal a potential buying opportunity if the price stabilizes near key support levels like $1,800, though caution is warranted due to the increased selling pressure. Additionally, Ethereum’s gas fees saw a temporary uptick to 25 Gwei at 11:00 AM UTC, likely due to heightened transaction activity following the whale’s move (Source: Etherscan Gas Tracker, April 29, 2025). While this event does not directly tie into AI-related developments, it’s worth noting that AI-driven trading algorithms, often used by institutional players, may have contributed to the rapid market response, as automated systems can detect and react to large transactions within milliseconds. Traders searching for Ethereum whale activity, ETH price prediction 2025, or crypto market sell-off analysis should monitor these metrics closely for short-term trading setups.

From a technical perspective, Ethereum’s price action post-sale provides critical insights for traders relying on market indicators. At 12:00 PM UTC on April 29, 2025, the Relative Strength Index (RSI) for ETH on the 1-hour chart dropped to 42, moving closer to oversold territory and suggesting potential for a reversal if buying interest returns (Source: TradingView, April 29, 2025). The Moving Average Convergence Divergence (MACD) indicator also showed a bearish crossover at 11:15 AM UTC, with the signal line crossing below the MACD line, confirming short-term downward momentum (Source: TradingView, April 29, 2025). Support levels to watch include $1,800, which held firm during a previous dip at 6:00 AM UTC on April 28, 2025, while resistance sits at $1,850, tested unsuccessfully at 2:00 PM UTC on April 28, 2025 (Source: CoinGecko Historical Data, April 28-29, 2025). Volume analysis across exchanges like Binance and Kraken shows that ETH trading volume surged to $1.5 billion by 1:00 PM UTC on April 29, 2025, a 25% increase from the daily average of $1.2 billion, underscoring the market’s reaction to the whale sale (Source: Kraken Trading Data, April 29, 2025). Open interest in ETH futures on Deribit also rose by 8% to $3.2 billion by 2:00 PM UTC, indicating that traders are taking positions, potentially expecting volatility (Source: Deribit Analytics, April 29, 2025). For those exploring Ethereum technical analysis, ETH support levels 2025, or crypto trading volume spikes, these indicators suggest a cautious approach, with potential entry points near support if bullish signals emerge. While AI-specific tokens like FET or AGIX showed no direct correlation to this event as of 3:00 PM UTC on April 29, 2025, the broader use of AI in trading platforms could amplify such market movements, as algorithms often exacerbate trends through rapid order execution (Source: CoinMarketCap AI Token Data, April 29, 2025). Traders should remain vigilant for further whale activity and leverage on-chain tools to stay ahead of market shifts.

FAQ Section:
What caused the recent Ethereum price drop on April 29, 2025?
The Ethereum price drop to $1,825 by 10:45 AM UTC on April 29, 2025, was primarily driven by a whale selling 10,511 ETH worth $19.2 million at $1,828, as reported by Lookonchain at 10:15 AM UTC (Source: Lookonchain Twitter, April 29, 2025). This large sell-off increased market selling pressure, contributing to the immediate price decline.

Is now a good time to buy Ethereum after the whale sale?
While the price dip to $1,825 as of 10:45 AM UTC on April 29, 2025, may present a buying opportunity near support levels like $1,800, traders should monitor technical indicators like RSI (currently at 42 as of 12:00 PM UTC) and volume trends before entering positions (Source: TradingView, April 29, 2025). Caution is advised due to ongoing bearish momentum.