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Ethereum’s value has been lagging, yet significant movements are occurring among whales. In the last 48 hours, ETH whales have acquired 1.10 million ETH, leading to speculation about a potential market shift.
With Ethereum’s total circulating supply at 120 million ETH, this acquisition accounts for nearly 0.92% of all ETH available.
In just 48 hours, Ethereum whales have purchased 1.10 million ETH, igniting speculation about a possible breakout.
— Meme Coin Mania (@MemeCoinMania77) March 8, 2025
Despite this accumulation, ETH continues to face pressure, trading at $2,195. The contrast between whale activity and price movement has led to discussions: are whales anticipating a long-term price increase, or is this merely a tactical positioning in response to market fluctuations?
Historically, significant whale accumulation has preceded major price movements. In January 2025, whales acquired 330,000 ETH within a week, prompting a brief rally. However, the current market sentiment remains cautious, with Ethereum struggling to surpass critical resistance levels.
ETH’s Price Movement: Bulls Struggle to Build Momentum
Even with the buying pressure from whales, Ethereum remains in a downtrend. The price is below the 50-day EMA ($2,234), encountering substantial resistance at $2,228. A breakout above this level could alter momentum, but until then, downside risks persist.
Technical indicators also support a bearish perspective:
- Relative Strength Index (RSI): 37, approaching oversold territory.
- MACD: Bearish crossover, indicating weak buying pressure.
- Descending Trendline: ETH must surpass $2,228 to regain bullish momentum.
If Ethereum cannot maintain above $2,000, a retest of $1,989 or even $1,864 may occur. On the upside, ETH needs to break through $2,393 to negate the downtrend.
What’s Influencing ETH? Trump’s Crypto Reserve & ETF Speculation
Ethereum’s price movement aligns with significant developments in the cryptocurrency sector. On March 2, 2025, former U.S. President Donald Trump announced the establishment of a U.S. Strategic Crypto Reserve, which includes Ethereum.
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This initially sparked optimism, but market sentiment waned after it was disclosed that the reserve would only hold seized crypto assets, not new purchases.
Additionally, the White House Crypto Summit on March 7, 2025, initiated discussions regarding potential Ethereum ETF approvals, adding another layer of speculation.
Ethereum currently holds a dominant position in the stablecoin market with a 56% share, reinforcing its long-term value proposition despite short-term uncertainties.
Conclusion: Ethereum continues to experience bearish pressure, with $2,228 acting as a significant barrier. If ETH fails to breach this level, a decline towards $1,989 and $1,864 remains likely. However, if bulls reclaim the $2,228–$2,234 range, Ethereum could aim for $2,393 in the near term.
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The post Whales Seize 1.10 Million ETH: Market Breakout Incoming? appeared first on Cryptonews.
