What to know:
- Large investor accumulation continues to support Ethereum’s recovery.
- Ethereum holds above key support with momentum remaining positive.
- Strong ETF inflows and high open interest reinforce market confidence.
Ethereum price is attempting to climb back toward higher price levels as major investors continue to show confidence after another multimillion-dollar purchase.
As of this writing, Ethereum price is trading at $1,912.62, up 0.19% over the past 24 hours. The whale purchase arrives as Ethereum’s technical outlook remains steady, with spot ETF inflows adding another layer of support.
Also Read: Ethereum Price Eyes $2,500 After Holding Crucial $1,800 Support
Ethereum Whale Buys Another $19M in ETH
According to blockchain analytics platform Lookonchain, an OTC whale “bought another 10,000 $ETH ($19.1M) today.” The platform also noted that the same wallet “also bought 27,000 $ETH ($52.03M) two weeks ago.”
The purchases were made through the over-the-counter (OTC) market, a route commonly used by large investors to avoid moving prices on exchanges.
One purchase alone isn’t enough to guarantee a rally, but repeated buying by large investors is something traders often watch closely.
It also suggests that some market participants continue to view current price levels as attractive despite Ethereum trading below its long-term resistance.
Also Read: Ethereum Price Eyes $2,100 as $208M Whale Staking Signals Bullish Momentum
Ethereum Price Holds Key Support
Analyzing the TradingView daily chart, Ethereum price continues to trade above the 50-day moving average at $1,792, which is acting as near-term support during its recent recovery.
Meanwhile, the next significant obstacle is the 200-day moving average near $2,068. If Ethereum breaks above this level, it would strengthen the broader bullish structure.
A rejection at this level could keep the price trading within its current range. The Relative Strength Index (RSI) stands at approximately 56, indicating that momentum remains positive without entering overbought territory.
This suggests buyers still have room to push prices higher, although stronger momentum will be needed to challenge the next resistance.
ETF Inflows Support Ethereum
Ethereum’s derivatives market continues to reflect healthy participation. CoinGlass data shows open interest holding close to $26 billion, suggesting traders are maintaining their positions rather than reducing exposure. Trading volume also remains healthy, indicating that market participation has stayed strong instead of fading after recent price movements.
According to the data from SoSoValue, Institutional demand is also supported by spot Ethereum ETFs, which recorded daily net inflows of $60.86 million, bringing cumulative net inflows to more than $11.3 billion.
Steady ETF inflows alongside continued whale accumulation suggest demand is coming from both institutional investors and large crypto holders, providing additional support for Ethereum’s recovery.
Also Read: Ethereum EIP-8361 Proposes Reward Burn at 50% Staking
What Should Traders Watch Next?
Ethereum is at a crucial stage. Buyers have successfully defended support above the 50-day moving average, and reclaiming the 200-day moving average around $2,068 will be an important confirmation that the recovery is gaining strength.
Large whale purchases, healthy derivatives activity, and steady ETF inflows continue to support Ethereum’s recovery.
But buyers have a lot of work to do. A breakthrough above the resistance line is going to be the next sign of an ongoing recovery.Until then, the market is going to monitor whether the demand is sufficient to sustain the current advance.
Also Read: BitMine Adds 10,399 ETH as Holdings Reach 4.8% of Ethereum Supply
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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