Ethereum News Today: Ethereum Whales Bet Big on Long-Term Resilience Amid Market Volatility

Ethereum's major whale activity has intensified as large holders continue to accumulate the cryptocurrency amid a consolidating market. A prominent whale, identified as 66kETHBorrow, recently added 19,508 ETH ($61 million) to his portfolio, bringing his total holdings since November 4 to 405,238 ETH, valued at $1.29 billion. This purchase follows a $105 million ETH acquisition by another whale, who has amassed 385,718 ETH ($1.33 billion) during the same period, with $270 million of that capital borrowed from decentralized lending platform Aave. Collectively, Ethereum whales have added over $4.3 billion worth of ETH to their portfolios in recent weeks, signaling growing confidence in the asset's long-term prospects despite short-term volatility.

The accumulation trend aligns with broader on-chain data showing large wallets (holding 1–10 million ETH) purchasing nearly 460,000 ETH ($1.6 billion) in four days. Analysts attribute this behavior to discounted entry points and strategic leverage, as whales often borrow funds to scale positions during downturns. For instance, 66kETHBorrow's continued buying despite $126 million in unrealized losses underscores a belief in Ethereum's resilience according to recent reports. Such activity not only absorbs liquidity but also reinforces psychological support levels, potentially stabilizing the price and shifting retail sentiment.

Ethereum's price action reflects this duality. While the asset remains in a month-long downtrend, trading near $3,479, bulls are eyeing key resistance at $3,650–$3,700 as a potential catalyst for a rebound. Volume data suggests fading selling pressure, though the 50- and 100-day moving averages remain above current levels, indicating lingering bearish momentum. Meanwhile, reduced selling by long-term holders-evidenced by declining "Age Consumed" metrics-has eased downward pressure, creating a more favorable environment for a recovery.

However, not all whale movements are bullish. A notable exception is nemorino.eth, who sold 5,000 ETH at $3,087.69 after a 12-day hold, realizing a $1.8 million loss. This exit highlights the risks of short-term trading in a volatile market but also underscores the liquidity impact of large-scale transactions. Despite such exits, the overall narrative remains dominated by accumulation, with whales viewing dips as opportunities rather than warnings.

Technical indicators further support a cautious bullish outlook. Ethereum's price has held above the 200-day moving average, a historically significant support level, while hidden bullish divergence in the RSI suggests underlying strength. If ETH breaches $3,607, it could target $3,802 and eventually $4,000. Conversely, a drop below $3,333 would validate bearish signals, testing whale confidence and potentially accelerating declines toward $3,131.

The market's trajectory will likely hinge on sustained whale accumulation and macroeconomic factors. For now, the data points to a consolidation phase where institutional confidence is quietly reshaping Ethereum's near-term trajectory.