Ethereum Whales Stirring: 1.4 Million ETH Accumulation Behind the $3000 Charge
As Ethereum broke the resistance level of $2800, on-chain data unveiled a hidden script—between April and May, whales holding 10,000 to 100,000 ETH quietly swallowed 1.4 million ETH, increasing their holdings from 15.8 million to 17.2 million. This batch of 'smart money' positioned itself at the low of $1600, accurately hitting the subsequent surge approaching $3100.
The technicals are also signaling: the 12-hour chart shows a golden cross, with the 50-day moving average piercing through the 200-day moving average, indicating the accumulation of upward momentum. Analysts are closely watching the $2233 support line; maintaining this level could lead to a sprint towards $3000, while losing it may plunge back to the abyss of $1900.
At this moment, ETH hovers around $2478, with a slight weekly drop of 2.74%. The silent chips of whales and the flashing candlesticks are brewing the next wave of turbulence in the deep sea of the crypto market.
