During a time of bearish market sentiment, a crypto whale identified Ethereum (ETH) as a promising investment opportunity and acquired millions worth of the asset. Today, on March 29, 2025, the on-chain analytics firm Lookonchain shared on X (formerly Twitter) that a crypto whale had purchased 3,195 ETH valued at $5.97 million.
Ethereum Whale Acquires $58 Million of ETH
The average buying price of ETH stood at around $1,868. Furthermore, it appears that the same whale is actively accumulating ETH on a large scale. Data reveals that since March 26, 2025, the crypto whale has bought 29,341 ETH worth $58.18 million at an average price of $1,983.
This extensive accumulation by the crypto whale indicates a lucrative buying opportunity and a potential bottom for ETH. It could also generate buying pressure, leading to a further upward trend.
Current Price Momentum
Despite the significant accumulation, the price of ETH has remained stable. At present, ETH is trading near $1,821, reflecting a price decrease of over 2.50% in the past 24 hours. Meanwhile, within the same timeframe, the trading volume of the asset has decreased by 35%, indicating reduced engagement from traders and investors compared to the previous day.
Ethereum (ETH) Price Movement and Future Levels
According to expert technical analysis, the recent price decline has brought ETH to a critical level, which will determine the asset’s price trajectory in the upcoming days.
On the daily chart, ETH seems to be forming a double-bottom price pattern with support at the $1,820 level. Based on recent price trends, if ETH maintains above $1,820, there is a strong chance of an upward movement, potentially reaching a 17% surge to hit the $2,100 mark in the future.
Conversely, if the price of ETH continues to decline and breaches this support level, closing below $1,800, there is a significant possibility of the asset dropping by 15% to reach the $1,550 level in the future.
