Ethereum On-Balance Volume Trend Strengthens as Key Support Holds

Ethereum’s OBV rose from 9M to 13.5M since July, showing strong buying inflows and steady accumulation.

Analyst Kamran Asghar notes bulls are defending 4,966 support, opening potential for a move toward 6,000.

Analyst Ted reports a $61.65M Ethereum whale purchase, indicating increased demand and market activity.

Ethereum OBV is showing steady strength, pointing to solid market activity and supporting ongoing upward momentum. The indicator, which measures buying and selling pressure by combining volume with price movement, is at 13.22 million

From April through early July 2025, OBV moved between 9 million and 11 million, showing mixed momentum during consolidation. However, by mid July, the indicator increased sharply to over 13.5 million, indicating consistent inflows of buying volume and sustained accumulation.

OBV Breakout and Market Structure

According to analyst IncomeSharks, Ethereum’s OBV remains strong and suggests further upside potential. The indicator recently broke above 13.2 million, a key resistance level marked by a dotted line, before peaking at 13.5 million

Ethereum OBV outlook, Source: IncomeSharks on X

Although OBV has since pulled back slightly, holding above 13.2 million would confirm strength in market inflows. A drop under 13 million, however, would raise caution. This upward movement shows intensified accumulation, aligning with bullish sentiment across the market.

Technical Break and Retest Levels

Another perspective comes from analyst Kamran Asghar, who observed Ethereum defending the 4,966 level. This area had previously acted as resistance and has now shifted into a support zone

He noted that if bulls maintain this level, Ethereum could see a potential path toward 6,000. The defense of this level ties into the OBV strength, as both indicators underline active buying interest. Together, volume inflows and technical structure reinforce each other in highlighting ongoing market participation.

Whale Activity and Market Demand

Further evidence of increased demand comes from whale activity. Analyst Ted reported a single purchase worth $61.65 million in Ethereum on the same day. Such concentrated accumulation reinforces the trend of consistent inflows highlighted by the OBV indicator

Notably, large scale purchases often provide liquidity shifts that align with technical levels, adding weight to the broader outlook. This buying pressure adds another layer to the analysis, connecting with both OBV strength and the defended support levels.

Ethereum’s current movement combines technical strength with clear buying interest. Analysts note the importance of OBV holding above 13.2 million and the defense of 4,966. At the same time, large-scale purchases emphasize that demand remains strong, forming a broader context for Ethereum’s ongoing performance.

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