🐋 Ethereum Whales Are Quietly Accumulating — Bullish Setup Forming
According to Cointelegraph, Ethereum’s largest holders (mega whales) have increased their ETH holdings by 9.31%, now holding over 41.06 million ETH as of July 7. This accumulation surpasses levels seen before the 2022 rally.
🔑 Key Insights:
– Mega whales’ holdings rebounded from a low of 37.56M ETH (Oct 2024)
– Accumulation rate is nearly 2x that of the 2022 rally (when ETH surged 95%)
– Historical patterns show similar accumulation led to sharp price increases
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📈 Technical Outlook:
– ETH is consolidating inside a bull pennant on the daily chart
– A breakout could target $3,400 by August, with some projections pointing to $5,000 by year-end
– Major support: $2,500–$2,536, where over 3.45M ETH has been accumulated (Glassnode)
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💡 Bottom Line:
Silent whale accumulation + technical consolidation = possible major breakout ahead.
But as always ➡️ DYOR. No guarantees in crypto.
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