Buy ETH? Tron Founder Remains Bullish amid Whale Purchases | Coinspeaker

Key Notes

• Tron founder Justin Sun has confirmed that he will not be selling a single ETH from his holdings.
• ETH price has crashed a massive 20% in the past week as gas fees hit lowest levels in five years.
• Sun also hinted at a potential collaboration between the Tron and Ethereum ecosystems.

Tron founder Justin Sun is choosing conviction over capitulation, declaring that he has no intention of selling his Ethereum

ETH $1 583

24h volatility: 1.3%

Market cap: $191.05 B

Vol. 24h: $9.56 B

holdings despite bearish sentiment and the cryptocurrency crashing 20% in the last 30 days.

Sun’s public stance not only emphasizes long-term belief in Ethereum but also signals potential upcoming collaboration between Tron

TRX $0.24

24h volatility: 0.2%

Market cap: $23.23 B

Vol. 24h: $639.86 M

and Ethereum developers, aiming to jointly push for broader blockchain growth.

Reports suggest Sun personally holds around 665,000 ETH, which is currently valued just under $1 billion, a steep drop from its estimated peak value of $2.5 billion.

Related article: Santiment: Ethereum Is Good Buy in 2025Despite the massive markdown, Sun remains steadfast in his decision to HODL, pushing back against growing market fears and a trend of whales offloading ETH in massive numbers.

Ethereum Faces Challenges

While Sun doubles down, the Ethereum network itself is facing a set of challenges. Daily active address metrics remain volatile, with data showing a year-over-year decline of over 11%, down to roughly 450,000 active addresses as of mid-April.

Though temporary spikes have occurred, occasionally breaching the one-million mark, the broader picture suggests a fading momentum in consistent user interaction.

Another key indicator of the current Ethereum slowdown is the plunge in gas fees, now at their lowest since 2020. According to Santiment, average transaction fees have dropped to just $0.168, a clear reflection of reduced network demand.

ETH Price Analysis

The daily Ethereum chart below shows a downtrend that began in mid-December 2024 and has persisted into April 2025. Also, a potential descending wedge pattern has been forming since around mid-February 2025.

This pattern, characterized by converging lower highs and lower lows, is generally considered a bearish continuation pattern. The more likely future would be ETH breaking down below the lower trendline of the wedge.

Technically, if a breakdown occurs around the current price level of $1575, a potential target could be in the range of $975 ($157-$600).

Ethereum Price Chart | Source: TradingView

On the other hand, a bullish case could see ETH breakout above the upper trendline of the descending wedge with strong buying volume. A potential initial target could be the resistance level around the previous swing high near $2200-$2400.

Meanwhile, the Relative Strength Index (RSI) currently reads around 36.31 suggesting that bears are dominating with the gradient of the line suggesting continued sideways movement until volume surges.

The Balance of Power indicator, which aims to measure the strength of buying and selling pressure, currently sits at -0.49. The negative value indicators that sellers have been in control of the price action.

nextDisclaimer: 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.