ETH struggles below $2,600 but holds strong above $2,470 support level.
Whale accumulation hints at growing institutional interest despite recent price dips.
Breaking $2,620 could trigger a sharp rally toward $2,880 resistance.
Ethereum — ETH, has been moving like a lion stalking its prey—quiet, patient, and ready to pounce. While many traders lost interest after weeks of sideways action, some signals suggest the wait may soon pay off. ETH has danced around $2,500 for days, teasing both bears and bulls. Meanwhile, whales have been busy beneath the surface, making bold moves that hint at what might come next. Momentum builds slowly—then all at once.
https://twitter.com/abu_crypto1/status/1929151358461976780 Whale Moves Whisper Big Intentions
Ethereum lost the $3,000 mark in February and hasn’t seen it since. Attempts to break past $2,800 fell flat, often retreating after grazing $2,700. Still, support at $2,470 held strong. The price dipped but bounced, showing buyers weren’t ready to give up. Recently, Ethereum broke above a key bearish trend line. That break may seem minor, but it signals changing tides. The 23.6% Fibonacci retracement level offered a short-lived ceiling. Resistance now looms around $2,550 and $2,600. Passing these could unlock new highs near $2,780.
But charts only tell part of the story. What’s happening behind the scenes adds serious intrigue. On Binance, Ethereum’s average order size has surged since May 19. This metric reveals more than raw volume. It shows whether large buyers or smaller traders dominate the market. Right now, big players seem to be in control. Whales have returned. Not with loud moves but with steady accumulation. This same behavior happened in December 2023—right before ETH soared from $2,200 to $4,000.
Technical Pressure Builds as Bulls Prepare
Whale activity throughout May suggests something is brewing. These aren’t random buys. They look like calculated entries, possibly setting up for another major push. ETH now trades below the 100-hour Simple Moving Average. But momentum may be shifting. Resistance at $2,620 is the real hurdle. That level lines up with the 50% Fibonacci retracement of the recent drop. Break that, and the next stop could be $2,720.
If bulls push through, $2,880 comes into play. The range between $2,470 and $2,620 has become a battlefield. Whichever side breaks through will likely control the next wave. The broader sentiment shows hesitation, but also quiet hope. Ethereum’s recent consolidation could be the calm before a market storm. Price action, on-chain clues, and Fibonacci levels all line up for a potential rally.
The market won’t wait forever. Once the breakout begins, it may move fast and furious. Ethereum holds strong above key support levels despite recent pullbacks.Whale activity suggests major players are accumulating quietly in the background. A breakout past $2,620 could spark a sharp move toward $2,880 and beyond.
