The post Ethereum Price Eyes Rebound To $3,000 As Whales Buy 110k ETH appeared on BitcoinEthereumNews.com.

Ethereum price movement has gained attention as large investors accumulated 110,000 ETH within the past 72 hours. This accumulation comes at a time when the cryptocurrency market has been experiencing fluctuations, with ETH recently facing a sharp decline. Analysts suggest that this whale activity could signal a rebound, possibly pushing ETH price towards the $3,000 mark. Ethereum Price Recovery in Sight as Whales Accumulate In a recent post on X platform, formerly Twitter, crypto analyst Ali Martinez reported that ETH whales have purchased 110,000 ETH over the past three days. This accumulation suggests increased confidence among institutional and high-net-worth investors despite recent price volatility. Historical trends indicate that when ETH whales engage in large-scale accumulation, Ethereum price tends to stabilize or rise. The recent purchases have reduced the available supply in the market, which may create upward pressure on the price if demand remains strong. If this trend continues, Ethereum price could break resistance levels and approach the $3,000 target in the coming weeks. More so, the recent buying by large investors shows a change of strategy from the most recent ETH panic selling after the price hit crucial support levels. Whales had previously offloaded over 440,000 ETH amid market uncertainty, but renewed accumulation suggests a potential shift in sentiment. This reversal indicates growing confidence in Ethereum long-term value despite short-term volatility. Price Struggles Amid Market Uncertainty Despite the bullish outlook from whale accumulation, Ethereum price has faced downward pressure due to overall market weakness. ETH has declined by 17% in the past week, hovering around the $2,378 resistance level. If buyers fail to maintain their position, a retest of lower support levels around $2,100 could occur. Recent market events, including a $1.5 billion hack on the Bybit exchange, have contributed to heightened volatility. The attack, allegedly linked to North…

---

Filed under: News - @ February 28, 2025 9:24 am