Whales Snap Up $1B in Ethereum – Is It Time to Buy?

Whales Purchase Over $1 Billion in Ethereum

In a recent post on X (formerly Twitter), a prominent crypto expert revealed that whales have purchased over $1 billion worth of Ethereum (ETH) in the past week. Specifically, more than 330,000 ETH has been acquired by these investors, signaling strong interest in the cryptocurrency. This large-scale accumulation of ETH is seen as a strategic move to capitalize on Trump’s upcoming inauguration, which is expected to positively impact the broader crypto market.

While the purchase of such a large amount of ETH indicates optimism, some analysts caution that the market could see a period of profit booking in the short term due to the recent price rise. Despite this, many expect a significant surge in the market following the inauguration, depending on the political developments and the global economic climate.

Current Price Momentum and Rising Participation

Ethereum has been experiencing significant price momentum, recently crossing the $3,500 mark. As of now, ETH is trading at approximately $3,515, reflecting a price surge of over 5.5% in the past 24 hours. During this period, trading volume has also risen by 11%, indicating increased participation from both individual and institutional investors.

Ethereum (ETH) Price Action and Key Levels

ETH’s price surge has brought it to a crucial resistance level at $3,500, where it previously encountered a reversal in price. According to expert technical analysis, if Ethereum successfully breaks through this resistance and closes a daily candle above $3,550, the price could rise by up to 15%, potentially reaching $4,100 in the coming days.

• Key Resistance Level: $3,500
• Potential Breakout Target: $3,550
• Price Surge Possibility: 15% increase, up to $4,100

On the technical side, Ethereum’s Relative Strength Index (RSI) is still below the overbought zone, indicating that ETH has room for further price appreciation in the coming days. This suggests that the bullish trend may continue, offering a promising outlook for investors in the near future.

Market Outlook and Conclusion

The massive accumulation of Ethereum by whales, combined with the upcoming inauguration of Donald Trump, has generated significant buzz in the crypto market. While there may be short-term volatility, the overall sentiment remains positive, with many anticipating a market surge post-inauguration. Traders and investors should continue to monitor key price levels and market trends to stay ahead of potential opportunities.