Usman Salis
Ethereum is catching attention as big-money investors made substantial purchases over the last day. With ETH trading around $4,409, this whale buying activity suggests growing confidence in crypto's second-largest asset.
ETH Price Action Backed by Whale Buying
Crypto analyst @ali_charts reported that wallets holding 10,000 to 100,000 ETH bought over 260,000 coins in a single day. While Ethereum's price moved between $4,355 and $4,755 during August, these large holders quietly increased their positions to 29.62 million ETH.
This buying pattern typically indicates that major players expect higher prices and want to position themselves before potential upward moves.
Key Levels for Ethereum (ETH) Price
- Current price: $4,409
- Support: $4,355 and $4,200
- Resistance: $4,600 and $4,755
- Next target: $5,000
Breaking above $4,600-$4,755 could send ETH toward the $5,000 mark. If support at $4,355 fails, a pullback might occur, though whale demand could limit any decline.
Why Whale Accumulation Matters
This buying spree is significant for several reasons. First, removing 260,000 ETH from circulation reduces available supply. Second, whale accumulation often signals market confidence and anticipation of higher prices. Third, institutional-level buying reinforces Ethereum's status as a serious long-term investment. Finally, similar whale behavior has historically preceded major price rallies.
Ethereum Price Outlook: Bullish Momentum Building
Ethereum remains stable above $4,400, but whale activity adds strong bullish momentum. Continued buying could push ETH toward the $5,000 psychological milestone.
With whales now controlling nearly 30 million ETH, the market appears to be entering a new accumulation phase that could fuel Ethereum's next significant rally.
Usman Salis
