Ethereum Whales Snap Up $1.6 Billion ETH As Selling Declines
BeInCrypto
Ethereum whales accumulated over $1.6 billion in ETH while selling pressure from long-term holders decreased, signaling potential strength.Summary
Ethereum is showing early signs of stabilization following an extended decline, driven by significant whale accumulation and reduced selling pressure. Addresses holding between 1 million and 10 million ETH have bought nearly 460,000 ETH in the last four days, totaling over $1.6 billion, indicating strong conviction for a rebound.
Furthermore, the Age Consumed metric is declining, which suggests long-term holders are slowing down their selling activity, easing market pressure. If these bullish factors persist, Ethereum, currently priced around $3,540, could break the local resistance at $3,607 and target $3,802. Failure to breach this resistance, however, could lead to a retest of the $3,287 support level.
(Source：BeInCrypto)