Key Takeaways
- Whales’ and traders’ strong interest and confidence in Ethereum (ETH) have lifted the asset price above the $3,200 level.
- Ethereum whales have added $115.36 million worth of ETH today amid market volatility.
- Ethereum is currently in a downtrend. A breakdown below $3,200 could trigger further declines, while a breakout above $3,700 may lead to a strong rally.
Despite heightened volatility, whales’ and institutions’ interest in Ethereum (ETH) continues to rise as they keep accumulating the asset. This growing demand has helped ETH hold above the key support level of $3,200.
Ethereum Whales on a Buying Spree
Recently, crypto transaction tracker Lookonchain shared multiple posts on X revealing whale activity.
In one post, the tracker revealed that a crypto whale named “66kETHBorrow” purchased 30,548 ETH, worth $105.36 million. Meanwhile, another whale, with the wallet address 0x9992, purchased $10 million worth of ETH and added 2,909 ETH to its holdings by borrowing $10 million USDC from Aave.
These accumulations demonstrate whales’ strong interest and confidence in the asset, even amid market volatility. Not only that, but they also hint at an ideal buying opportunity.
Traders Eyes on Long Positions
Besides whales’ bullish interest, the derivative tool Coinglass reveals that traders are also following the same trend, as they appear to be strongly betting on long positions.
According to the latest data, ETH’s major liquidation levels stand at $3,368 on the lower side and $3,477 on the upper side. At these levels, traders have shown strong interest: $517 million worth of long positions have been built at $3,368, while $502.12 million worth of short positions have been built at $3,477.
This makes it clear that both long-term and short-term sentiment for ETH is bullish, indicating strong bullish sentiment.
Current Price Momentum
According to TradingView data, ETH is trading at the $3,490 level, posting a gain of 2.30% today. Along with the rising price, market participation has surged, as reflected in the trading volume, which jumped over 23% to $41.05 billion.
Also Read: Here’s Why XRP Struggling to Recover above $2.50?
Ethereum Price Action and Technical Analysis
TimesCrypto’s technical analysis of the daily chart shows that ETH is in a downtrend, trading in a lower-high, lower-low pattern since the beginning of October 2025.
However, over the past eight trading days, the price has remained sideways near the key support level of $3,200, which appears to be a strong support for the asset.
Based on the current price action, a major rally for ETH on either side would only be possible if it clears the $3,700 level on the upside or $3,200 on the downside.
Currently, ETH is closer to the lower support level. If the price continues to decline and breaks below $3,200, a 13.5% drop could occur, potentially reaching $2,760.
On the other hand, if sentiment shifts and ETH clears the $3,700 level, it could see a sharp 12% rebound, potentially reaching $4,300.
As of now, Ethereum’s Chaikin Money Flow (CMF) value is -0.12, indicating weakening buying pressure and potential selling activity, which aligns with the current downtrend.
