Ethereum has shown a notable 29% increase recently, breaking above $3,000, although its momentum has waned despite Bitcoin's recent surge. Whale activity is rising, with a new whale wallet accumulating over $23 million in ETH in just 24 hours. This wallet emerged on November 9, acquiring more than 18,000 ETH at an average price of $3,201. Trading analysis indicates that while ETH has encountered significant overhead resistance around $3,500, there may be potential for a rebound if it reaches the support range between $3,072 and $2,987. Previous whale movements suggest strategic trading behaviors, as seen with long-term holders cashing in large amounts of ETH. The market's sentiment shows possible price fluctuations ahead as whales evaluate the current price levels for future accumulation.

Source 🔗