- Whales bought 340,000 ETH in the last 3 days worth more than $1 billion.
- ETH might have completed its correction as the Long Term Trend Directions is strongly bullish.
Ethereum’s ([ETH] whale activity contrasted with its price, showing significant buying during the downturn.
Over three days, whales acquired 340,000 ETH, valued over $1 billion, suggesting strategic bulk purchases during price dips.
This pattern against a backdrop of general crypto declines, sparked speculation about potential market rebound.
Source: Ali/X
The activity aligned with historical patterns where substantial buys often precede market recoveries. This hinted that ETH might soon experience a price increase if this trend holds true.
Is correction over amid long term trend directions?
Ethereum weekly chart indicated a potential completion of its correction.
The price successively retested the Tenkan and Kijun lines of the Ichimoku Kinko Hyo indicator, suggesting a stabilization.
Further signs of support were evident as ETH interacted with the Kumo Cloud’s Senkou Span A, seen as a preliminary resistance turned support.
