TLDR:
- Whales and sharks accumulated 934K ETH worth $3.15B in three weeks as small retail wallets reduced exposure.
- Ethereum reclaimed the $3,250 resistance level, forming a supportive zone closely watched by active traders.
- Analysts point to $3,400 as a potential short setup area if intraday price action faces rejection on retests.
- A drop below $3,250 may trigger a move toward $3,150, where traders could reconsider long entries after reversals.
Ethereum extended its upward momentum with an 8.5% gain, reaffirming its strength during a period of wider market caution.
The asset reclaimed a key trading region and advanced toward a familiar price pocket that attracted strong interest earlier in the month.
The recent surge aligned with unusual accumulation patterns from larger wallets, creating renewed discussion about market structure and positioning ahead of upcoming macro events.
Whales Absorb Supply as Retail Outflows Increase
Ethereum recorded a notable shift in holder behavior, as Santiment reported that whales and sharks acquired approximately 934,240 ETH in the past three weeks.
The total value of the accumulation reached roughly $3.15 billion. At the same time, small retail wallets offloaded around 1,041 ETH during the past week, creating a clear division between long-term strategic buyers and short-term traders.
The accumulation emerged as Ethereum reclaimed the $3,250 region, which had previously acted as resistance.
Larger holders continued adding to their positions while price strength increased. Their steady inflows aligned with Ethereum’s ability to outperform Bitcoin during the most recent move, suggesting that strategic investors maintained confidence in the current range.
This data from Santiment introduced a developing trend where whales continued expanding exposure as retail participants withdrew.
The opposing shifts contributed to a tighter supply environment during a period of rising price interest. With Ethereum approaching previously tested levels, traders monitored whether whale activity could point to broader positioning ahead of the next catalyst.
Key Price Levels Shape Short-Term Scenarios
Market analyst Lennaert Snyder noted that Ethereum recovered the key $3,250 region and moved toward the $3,400 fair value gap, which he had identified earlier as a long target.
He stated that any revisit of the $3,400 range may present short setups after a failure on lower timeframes, although the asset continued to show relative strength at current levels.
Snyder mentioned that the $3,250 support and resistance flip may provide long opportunities if the market forms a reversal.
However, he warned that losing this region may activate short positions toward the $3,150 start-impulse zone. He added that traders may watch for long entries again once price stabilizes at that lower level.
He also cautioned that trading before the FOMC meeting carries higher risk and favors scalping approaches.
His framework offered clear reference points for market participants tracking Ethereum’s next move, particularly as whale accumulation added another layer of interest to short-term price behavior.