Ethereum Price Eyes Recovery as Whales and Institutions Boost Accumulation

Ethereum Price Eyes Recovery as Whales and Institutions Boost Accumulation. Source: EconoTimes

Ethereum (ETH) continues to struggle near the $3,700 resistance zone after multiple failed attempts to sustain momentum. Despite recent selling pressure, the cryptocurrency remains a focal point for whales and institutional investors, signaling growing long-term confidence. At present, Ethereum trades around $3,437, holding above the critical $3,400 support level that has repeatedly acted as a strong buying zone during market pullbacks. Analysts note that a drop below this threshold could push prices toward $3,200, where renewed accumulation is likely to occur.

Market expert Ted emphasized that Ethereum’s ability to reclaim the $3,700 level could determine its potential to retest the $4,000 resistance before year-end. A recovery above $3,700 would not only confirm bullish momentum but also enhance investor sentiment across the market. Conversely, failure to defend key support zones might prolong the current correction phase.

Technical indicators highlight a symmetrical triangle pattern on the daily chart, suggesting that the market is coiling for a decisive breakout. With the Directional Movement Index (DMI) showing +DI at 13 and -DI at 30, sellers still dominate, while an ADX value of 32 indicates strong trend momentum. Analysts anticipate Ethereum could revisit the $3,272 support area before regaining strength, with a rebound from this level potentially paving the way toward $3,700 and $4,000 targets.

Meanwhile, on-chain data reveals significant whale accumulation. A large investor who previously shorted Ethereum has since bought heavily, withdrawing over 60,000 ETH (worth $213 million) from Binance. Since early November, this whale has accumulated nearly 393,000 ETH, valued at around $1.38 billion. Institutional confidence is also growing, supported by new U.S. Treasury and IRS guidance allowing crypto ETFs to stake digital assets.

Overall, Ethereum’s resilience near key support levels and sustained whale accumulation reinforce a cautiously optimistic outlook. If bulls manage to defend $3,400 and reclaim $3,700, ETH could regain upward momentum and potentially reach $4,000 by year-end.