Ethereum Whales Accumulate $10M as Price Hovers Near $2,525 Resistance

Ethereum is currently at a critical juncture, with its next move hinging on the $2,525 resistance level. This level is not just another line on a chart; it is a pivotal point that could determine whether Ethereum will retest the range-highs or face further downside pressure. The cryptocurrency has been holding steady around the range-low, with traders and investors closely watching the $2,525 level as the next potential battlefield.

Recent on-chain data shows significant whale activity, with nearly $10 million in Ethereum purchased within hours. One wallet acquired 1,989 ETH, worth around $4.8 million, while another wallet bought 1,888 ETH for $4.56 million. These purchases are not just transactions; they are bold statements of confidence in Ethereum's potential. On-chain data confirms that whale accumulation has touched an all-time high, indicating growing investor confidence. However, despite this activity, Ethereum's price has remained relatively muted, trading around $2,427 at the time of writing.

Meanwhile, Ethereum ETFs are seeing larger inflows, suggesting that investors are preparing for a potential rally. The market's silence feels less like weakness and more like suspense, with strong demand and a market cap of $293.06 billion. Ethereum fell 31% in Q2, which has been a drag on confidence. However, some analysts believe that the current lull hides massive potential. According to one analyst, Ethereum retests the bottom channel every cycle, and in past cycles, these retests led to significant rallies. Even a modest 6x increase from the current price would send Ethereum soaring to $10,000.

The $3,000 level looms above as the next serious test for Ethereum. For now, Ethereum must break above $2,525 to even attempt to reach this level. Once momentum returns, the path toward range-highs becomes clear. Until then, the pressure builds like steam behind a dam. Ethereum may appear quiet, but every dip, every whale move, and every ETF inflow is fuel. The only question is: when does the fuse catch?