Ethereum Whales Increase Holdings Despite Price Uncertainty

Ethereum’s price movement over the last few days has been marked by notable whale accumulation. Large holders, particularly wallets with between 100,000 and 1,000,000 ETH, have significantly increased their holdings.

This shift in whale behavior raises the question – Is Ethereum gearing up for a price rebound, or is this a false signal?

Ethereum Whale Accumulation Trends – A Closer Look

According to Santiment, the number of large ETH holders has seen a sharp hike recently, with total holdings in this category climbing to 19.59 million ETH. This follows an accumulation of over 420,000 ETH in the last five days.

This may signal renewed confidence among big players; historically, such accumulation often precedes price recoveries, particularly as whales tend to buy dips to strengthen their positions.

However, Ethereum’s price has struggled to maintain momentum. At the time of writing, the altcoin was trading at $1,929, reflecting mild gains of 0.94% in the last 24 hours. The 50-day and 200-day moving averages were $2,299 and $3,006 respectively, emphasizing the long-term bearish trend.

ETH’s Price Action and Indicators

Ethereum has remained below key resistance levels, with the 50-day moving average acting as strong resistance. The Accumulation/Distribution (A/D) metric has steadily increased – indicating buyers have been stepping in, despite broader market uncertainty.

However, the Absolute Price Oscillator (APO) remained in negative territory at -81.75, suggesting that Ethereum has yet to build enough momentum for a strong recovery. Unless whale accumulation translates into broader market demand, ETH could continue facing resistance in the short term.

What Could the Trend Mean?

Whale accumulation is often a bullish sign but must be paired with increased network activity and market-wide optimism to drive significant price recovery. If Ethereum can break above the $2,000 resistance zone, it could set the stage for a stronger uptrend.

However, failure to maintain current levels might lead to further declines towards $1,850 or lower.

Conclusion

Ethereum’s whale accumulation indicates confidence among large holders, yet its price has not yet shown a clear bullish trend. Traders should monitor key resistance levels and broader market sentiment to gauge Ethereum’s next move. Will whales successfully push ETH towards recovery, or is another drop in store for the altcoin?