- Whale activity spikes as Ethereum dips—over $449M in institutional ETH buys signal strong confidence in future price growth.
- The $3,100 zone aligns with the 0.618 Fib level and past demand, making it a critical battleground if sellers push lower.
- ETH continues its reclaim-pump pattern; reclaiming $3,600 may trigger another bullish leg targeting $4,400 resistance.
Ethereum is testing key support near $3,600 as whale accumulation intensifies, with over $449 million in recent buys. Analysts highlight the $3,100 zone as a crucial battleground, potentially setting the stage for a bullish reversal.
Support Zone Back in Focus
According to data from the ETH/USD weekly chart on Bitstamp shared by Crypto anup on X, Ethereum has remained locked between $3,200 and $4,200 for months. The $3,800–$4,000 zone acted as strong resistance, where ETH formed a double-top in July. Price failed to close above this level and reversed downward.
A key Fibonacci support lies between $2,900 and $3,200. The current price of $3,634 is still holding above this zone. If sellers push further, analysts expect a retest near $3,100, which aligns with the 0.618 Fib level. This area has served as a major demand zone in past cycles.
Earlier in 2025, Ethereum surged from $1,600, breaking through former resistance levels like $2,400 and $3,200. This upward momentum started after a prolonged downtrend and was backed by strong weekly candles.
Institutional Buys Counter Bearish Sentiment
Despite short-term bearish patterns, Ethereum’s long-term trend remains supported by major buyers. As reported by TedPillows on X, a whale entity created four wallets and bought $361 million in ETH. In addition, JeremyBTC noted that BlackRock purchased 23,874.75 ETH worth $88.8 million. This institutional activity signals continued confidence even amid market hesitation.
These high-value transactions suggest strategic accumulation during price dips. Historically, such behavior precedes strong upside moves, especially when support zones hold firm.
Reclaim Pattern Still Intact
Market structure from the ETH/USDT daily chart on Binance, shared by Ash Crypto, shows a consistent pattern. Each deviation below key support has been followed by a reclaim and a bullish push. The most recent reclaim near $3,600 mirrors this setup, indicating another possible upside if the structure holds.
This structure appeared in March, June, and July. In each case, the recovery from the drop was followed by a new high. Currently, the $3,600 level is being reclaimed again. If this holds, another move toward $4,400 could follow.
