Mapping Ethereum’s recovery as $131mln whale accumulates near $2K levels
The post Mapping Ethereum’s recovery as $131mln whale accumulates near $2K levels appeared on BitcoinEthereumNews.com.
A large Ethereum whale has accumulated 63,324 ETH worth about $131.33 million in two days, reinforcing strong accumulation as exchange outflows continue tightening available supply. The wallet purchased 44,888 ETH valued near $92.97 million yesterday, then added 18,436 ETH worth about $38.36M today, reflecting sustained conviction despite recent market turbulence. Meanwhile, Ethereum Spot Netflows show a daily net outflow of roughly $5.50 million, indicating more ETH continues leaving exchanges than entering them. Such withdrawals often reduce immediate sell-side liquidity across trading venues. Large holders frequently move assets off exchanges when long-term positioning strengthens. This combination of aggressive whale buying and persistent exchange outflows has strengthened a developing accumulation narrative around Ethereum’s current market structure. Ethereum battles descending trendline near $2K Ethereum’s price structure has continued consolidating near the $2,000 region while interacting with a long-term descending trendline extending from the previous macro highs. The market held above $1,939 support at press time, which has repeatedly contained recent selling pressure during the ongoing correction phase. Meanwhile, $2,261 remains the nearest structural resistance, marking a level that previously rejected recovery attempts. Price has continued compressing within this range while respecting the broader downtrend boundary. However, the repeated defense of the $1,939 zone has maintained structural stability in the current consolidation environment. Such range compression often precedes stronger directional expansion. Ethereum, therefore, remains trapped between a key support floor and a descending resistance boundary shaping the broader technical landscape. Source: TradingView Momentum indicators have begun reflecting early signs of stabilization across Ethereum’s short-term structure. The RSI, at press time, sat near 48, recovering from deeper oversold conditions observed earlier in the sell-off. This recovery suggests selling pressure has gradually weakened while buyers slowly regain influence. At the same time, Parabolic SAR dots have flipped below price, indicating short-term bullish pressure emerging within the…
Filed under: News - @ March 13, 2026 1:17 am