Whales Show Strong Interest in Ethereum Despite Bearish Market Sentiment
Despite the prevailing bearish market sentiment, Ethereum (ETH) whales are displaying a significant level of interest in the digital asset. Recent data from Lookonchain, a blockchain-based transaction tracker, reveals that ETH whales are actively engaging in a buying spree, indicating their confidence in the long-term potential of the cryptocurrency.
Whales Buy 15,563 ETH Amid Price Crash
One notable instance involves a crypto whale who recently purchased 4,100 ETH for $7.32 million on April 4, 2025, adding to their existing holdings of 3,195 ETH acquired for $5.97 million. This whale has been steadily accumulating ETH since March 26, 2025, with a total holding of 33,441 ETH valued at $65.5 million, averaging a price of $1,959 per ETH.
Another whale created a new wallet and invested $20.78 million to acquire 11,463 ETH at an average price of $1,813 within the past six hours. These substantial purchases by prominent crypto investors suggest a positive outlook on the future of Ethereum and may signal a buying opportunity for others in the market.
Current Price Momentum
As of the latest data, ETH is trading around $1,790, experiencing a modest price increase of over 0.90% in the last 24 hours. However, trading volume for the asset has decreased by 30%, indicating lower market participation compared to the previous day.
Ethereum (ETH) Technical Analysis and Upcoming Levels
Technical analysis suggests a bearish outlook for ETH following a recent breakdown below the critical support level of $1,810. If ETH fails to reclaim this level, there is a potential for a 15% decline towards $1,500 in the near future.
Currently, ETH is trading below the 200-day Exponential Moving Average (EMA) on the daily chart, signaling a strong bearish trend in the short term.
Major Liquidation Levels
Traders are currently over-leveraged at the support level of $1,751 and the resistance level of $1,822, as reported by Coinglass, an on-chain analytics firm. Long positions worth $480 million and short positions worth $195 million have been established at these levels, reflecting the prevailing market sentiment and potential liquidation risks.