Ethereum Whales Accumulate As ETH Jumps 7% – Is a Bigger Rally Ahead?

Ethereum rebounds 7% as whales purchase over $422 million through Galaxy Digital OTC.

Technical indicators show recovery, with key support at $2,350 and resistance near $2,800.

Analysts predict a breakout toward $3,000 as long-term patterns gain traction.

Ethereum — ETH, recently fired up again. After slipping to $2,131 on Sunday, ETH now trades around $2,409. That’s a strong 7% bounce in 24 hours. But the price isn’t the only thing climbing. Trading volume soared 18%, reaching $28 billion. Behind the scenes, massive whale activity tells a deeper story. One mysterious buyer scooped up millions in ETH. Are we seeing the early stages of a bigger rally?

Whales Move In as ETH Breaks Higher

LookonChain spotted a massive ETH purchase early Tuesday. A whale, possibly tied to ConsenSys, acquired 3,704 ETH. That’s roughly $8.91 million through Galaxy Digital’s OTC desk. And this whale didn’t stop there. Over the last three weeks, this address accumulated 161,112 ETH—worth more than $422 million. That level of confidence speaks volumes. ETH’s current market cap stands at $290.86 billion. Analysts see a solid shift from panic to patience. On the daily chart, RSI jumped from near-oversold to 48. This indicates growing strength as buyers return. If RSI climbs higher, bulls could regain control.

Bollinger Bands are tightening, signaling a brewing breakout. Price is now nearing the midline, the 20-day SMA. A strong close above the upper band, near $2,800, could unlock the path to $3,000. MACD remains in the red but shows early signs of recovery. The gap between the MACD and signal line is shrinking. A bullish crossover might arrive soon. But for now, ETH must hold above $2,350. A drop below that level risks revisiting the $2,100 zone.

Analysts See More Room to Run

Analyst Mister Crypto believes ETH is moving within a long-term structure. He suggests a five-year pattern is nearing completion. A breakout may follow if this trend continues. He encouraged investors to stay calm and wait. Another popular trader, Christiaan, also shared his view. He predicted ETH could hit $3,000 in the mid-term. That would be a 25% gain from current prices.

Ethereum still trades 50% under its all-time high of $4,891. Traders feel a mix of excitement and caution. Whale buying, technical signals, and analyst optimism fuel hope. But support must hold to keep the momentum going. ETH has shaken off the weekend drop. Now, everyone’s watching what comes next. Ethereum rebounded 7% as whale buys fuel momentum and trading volume spikes.

For now, technical indicators suggest growing strength, with $2,350 acting as key support. Analysts forecast a breakout, pointing to $3,000 as the next major target. Whales believe in ETH’s future—and the market may soon follow.