Large holders have ramped up their accumulation of Ethereum, adding significant amounts over the past few days as the asset continues to hover around the $2,300 level.
Whale accumulation strengthens
Data shared by Ali Charts shows that whales picked up roughly 140,000 ETH within a 96-hour window—valued at around $322 million. Instead of a single bulk transfer, the increase reflects consistent accumulation, with holdings rising from about 13.78 million ETH to nearly 13.98 million ETH.
This steady buying trend suggests that major investors are gradually increasing their exposure while prices remain relatively stable.
Price action remains cautious
Despite the surge in whale activity, Ethereum’s price has stayed largely range-bound near $2,300. The broader market sentiment remains mixed, with traders waiting for clearer confirmation before making aggressive moves.
Key levels to watch
The $2,200 level continues to act as a crucial support zone. Holding above this level could allow ETH to build momentum toward higher resistance levels.
On the upside, a decisive break above $2,400 may trigger a stronger rally, potentially pushing the price toward the $2,600–$2,800 range.
However, if Ethereum drops below $2,200, it could invalidate the current structure and increase the likelihood of a decline toward the $1,900 region.
Outlook
For now, Ethereum’s market structure remains indecisive. While whale accumulation is a positive signal, price action still needs to confirm strength through a clear breakout or sustained support hold before a definitive trend emerges.
