Ethereum Whales Add $1 Billion After 15% Correction — What’s Next for Price?

Ethereum is showing signs of stabilization near $2,950 after a sharp 15.6% correction from January highs, bouncing off key support around $2,860. Underlying signals suggest a potential rebound, including a completed bearish momentum reset, aggressive accumulation by whales, and a recovery in network usage. Specifically, On-Balance Volume (OBV) showed weakening selling pressure during the dip, coinciding with whales adding approximately 350,000 ETH, valued at over $1.03 billion, in the last 24 hours. Furthermore, Ethereum reclaimed the No. 2 spot for daily unique addresses (DUAs) among Layer-1s, surpassing SEI, indicating recovering on-chain activity. This fundamental improvement was mirrored by a sharp surge in social dominance, which historically precedes short-term price advances. Key price levels to watch are $2,860 as critical support; a break above $3,010 could confirm short-term strength, targeting resistance at $3,350.

(Source：BeInCrypto)