Ethereum News Today: Ethereum Holds Above $3,300 as Institutional Accumulation Surpasses $2.4 Billion

Ethereum continues to stabilize above the critical $3,300 support level, with bullish momentum signaled by on-chain metrics and significant institutional accumulation. The cryptocurrency remains in a technically favorable position, with key price targets of $4,220 and $5,140 in focus should the support hold [1]. On-chain indicators such as MVRV and MACD reinforce the upward bias, while the RSI at 77.16 suggests strong buying pressure. Ethereum is currently near the +1.0σ band of the MVRV Pricing Bands at $3,793.62, and analysts suggest that maintaining the $3,300 threshold could propel the asset toward higher σ levels [1].

Institutional interest in Ethereum has also surged, with whale and institutional investors acquiring over $2.4 billion in ETH since early July. Lookonchain data highlights nine new wallets acquiring 640,646 ETH, including large transfers from Binance and Galaxy Digital. BlackRock’s Ethereum ETF (ETHA) has added 1.25 million ETH since July 1, now holding over three million ETH valued at $11.36 billion. SharpLink Gaming also expanded its ETH holdings to 449,000 ETH, valued at $1.74 billion, further reinforcing market confidence [1].

Whale accumulation is not only reinforcing Ethereum’s current strength but also signaling potential long-term bullish sentiment. These large-scale purchases suggest a growing institutional appetite for Ethereum, which could enhance liquidity and price stability in the coming months. The continued buying activity, combined with strong technical indicators, positions Ethereum for further gains, provided the $3,300 level remains intact.

Glassnode data also notes the +1σ Active Realized Price band near $4,500 as a historically significant resistance level. If Ethereum can surpass this threshold, it may accelerate its upward trajectory. However, analysts remain cautious about the $3,300 support level, emphasizing its role as a crucial pivot point for the ongoing rally.

Reed Carson, a crypto analyst, highlighted the clean MACD flip as a sign that Ethereum could reclaim $4,000 in the near term [1]. This technical development, combined with the broader accumulation patterns, supports the view that Ethereum is in a consolidation phase before a potential breakout. The market will be closely watching for any breakdown below $3,300, which could trigger a reevaluation of the bullish case.

In summary, Ethereum’s ability to maintain its position above $3,300, coupled with robust technical indicators and growing institutional accumulation, strengthens the case for continued upward movement. Analysts remain optimistic about the potential for Ethereum to reach $4,220 and $5,140, with key on-chain metrics and whale activity reinforcing the bullish narrative.

Source: [1] Ethereum Holds Above $3,300 Support Amid Bullish Signals and $2.4B Whale Accumulation Potential (https://en.coinotag.com/ethereum-holds-above-3300-support-amid-bullish-signals-and-2-4b-whale-accumulation-potential/)