- Whale wallets added over $3.8B in ETH amid price uncertainty.
- ETF inflows and accumulation hint at institutional confidence in Ethereum.
Ethereum (ETH) continues to trade in a narrow range beneath the key $2,800 resistance. According to Daan Crypto analysis, Ethereum remains locked in a compressed trading range just under the $2,800 resistance.
The Dan analysis shows consolidation following a sharp rally from the $2,100 support. Historical price action indicates multiple rejections near $2,815, highlighting the area’s role as a significant resistance zone. Analysts note that any clear breakout above this level could open the path toward previous highs near $4,000.
However, the reverse scenario remains in play. A failure to break through this resistance could see ETH revisit the $2,100 support zone. This level has consistently held as a strong base during recent downside moves.
Whales Accumulate 1.49 Million ETH as Retail Stays Cautious
Santiment’s latest data reveals that Ethereum whales have added 1.49 million ETH to their holdings in the past 30 days. Wallets holding between 1,000 and 100,000 ETH grew their balances by 3.72%, equivalent to about $3.8 billion.
The buying trend aligns with inflows of $1.4 billion into ETH ETFs, indicating positioning ahead of potential positive developments. Similar accumulation was last observed after the FTX collapse, which preceded a significant rally.
Ethereum Trades at $2,639.49 With Rising Daily Momentum
At the time of writing, Ethereum is trading at $2,639.49, up 3.54% in the past 24 hours. The daily trading volume surged by 66.65%, now totalling $20.65 billion. ETH’s circulating supply holds steady at 120.72 million, with no capped maximum supply. This intraday movement follows a bounce from near $2,525 support, where buyers re-entered aggressively.
Short-term resistance is forming around the $2,650 mark, temporarily halting further gains. Analysts suggest that recent whale accumulation and ETF inflows have contributed to the positive momentum.
The market is watching whether Ethereum can sustain this upward push and break through the $2,800 ceiling. Until then, price action is likely to remain range-bound, influenced by institutional flows and broader market sentiment.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
