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"Is it time to buy Ethereum?"
Whales buy 15,563 Ethereum amid price collapse .. for the first time
Despite the volatile market atmosphere, cryptocurrency investors are showing significant interest in Ethereum (ETH). Data from Lookonchain, a blockchain transaction tracking platform, shows that ETH investors are in an intensive buying wave.
Whales are buying 15,563 Ethereum amid price collapse
In a recent post on X (formerly known as Twitter), it was revealed that a crypto whale who previously bought 3,195 ETH for 5.97 million USD has now bought another 4,100 ETH for 7.32 million USD on April 4, 2025.
This whale bought 4,100 $ETH ($7.32M) at a price of 1,785 USD again today! Since March 26, this whale has bought 33,441 $ETH ($65.5M) at an average price of 1,959 USD.
https://t.co/Qwo8W90dWE pic.twitter.com/LMO1MhQFJ1
— Lookonchain (@lookonchain) April 4, 2025
It seems this whale is calculating its average purchases of Ethereum. The post also revealed that since March 26, 2025, the whale has accumulated 33,441 Ethereum worth 65.5 million USD, at an average price of 1,959 USD.
In addition to this whale, another crypto whale recently created a new wallet and spent 20.78 million USD to buy 11,463 ETH at an average price of 1,813 USD in the past six hours, as reported by Lookonchain on X.
A whale has created a new wallet and spent 20.78 million USD to buy 11,463 USD of ETH at a price of 1,813 USD in the past six hours.
https://t.co/m7xDfqBMjH pic.twitter.com/HYBbcMIrzR
— Lookonchain (@lookonchain) April 4, 2025
These massive purchases of ETH by cryptocurrency giants raise questions and suggest that this may be the ideal time to buy ETH at a lower level.
Current price momentum
At the time of publishing this report, the price of Ethereum was trading at 1,790 USD, having recorded a slight price increase of over 0.90% over the past twenty-four hours. However, during the same period, the trading volume of the asset decreased by 30%, indicating a decline in trader and investor participation compared to the previous day.
Technical analysis of Ethereum (ETH) and the upcoming levels
According to expert technical analysis, it appears that the price of Ethereum (ETH) is in a bearish trend after recently falling below the critical support level of 1,810 USD. Based on the recent price action, if the price of Ethereum remains below the level of 1,810 USD, there is a high likelihood of it dropping by 15% to reach 1,500 USD in the coming days.
Source: Trading View
Currently, the altcoin is trading below the 200-day Exponential Moving Average (EMA) on the daily timeframe, indicating a strong bearish trend.
Key liquidation levels
In addition to the bearish price movement, traders currently have excessive leverage at the support level of 1,751 USD and the resistance level of 1,822 USD, according to the on-chain analytics firm Coinglass.
Source: Coinglass
Data also reveals that traders have built long positions worth 480 million USD and short positions worth 195 million USD at these high leverage levels, clearly reflecting the current market sentiment.