ETH Whales Are Loading Up: And It Could Be Just the Beginning

Ethereum (ETH) has shown a strong upward trajectory over the past seven days as it climbed from around $4,300 last week to briefly test the $4,700 level before pulling back to the current level of $4,520 entering the new ￰0￱ fact, the crypto asset continues to see notable whale accumulation, as fresh wallets actively withdraw large sums from centralized ￰1￱ Bet Big on a Breakout According to the latest data shared by Lookchain, a newly created wallet recently pulled 5,297 ETH from Binance and ￰2￱ stash is worth around $24.7 ￰3￱ follows a similar action by a different whale wallet, which secured an additional 13,322 ETH, equivalent to $61.65 million, from FalconX on September ￰4￱ hours earlier, another newly created address withdrew 4,208 ETH, worth nearly $19.5 million, from ￰5￱ back-to-back transactions highlight a trend of continued whale demand for the altcoin, which currently appears to be in a strong accumulation ￰6￱ whales continue to load up on ETH, sentiment is shifting bullish, with market commentators pointing to key levels that could determine its next ￰7￱ crypto asset now faces mounting pressure around the $4,800-$4,880 zone, which is deemed a critical resistance that has repeatedly capped price action.

A daily close above $4,880 is expected to trigger a strong breakout, powered by renewed momentum and the potential for a short ￰8￱ the downside, the $4,200-$4,400 support continues to provide a solid ￰9￱ range has absorbed selling pressure, keeping the bullish structure ￰10￱ price levels, volume and institutional participation remain ￰11￱ Upside Ahead Echoing a similar stance, Sean Dawson, head of research at on-chain options platform Derive. xyz, said that the crypto asset is primed for more gains even as ETH suffered a mild setback on Monday. “While some are worried that ‘the music is about to stop,’ the reality is more ￰12￱ may see volatility and consolidation in September, driven by fiscal year-end flows and some profit-taking among ETH ￰13￱ the structural backdrop – falling rates, institutional positioning, and bullish derivatives markets – suggests there’s still substantial upside ￰14￱ is likely not the cycle top.” In an even bolder prediction, a market commentator observed that while ETH may face short-term downside pressure, the broader outlook over the next three to four months remains highly bullish and will ultimately hit $10,000 this cycle.