ETH Whales Are Hoarding Like It’s 1999: Should You Panic or Party? 🎉💸

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Amid the price correction, $3,650 appears to be a key support for ETH; a breakdown could push the price 8% lower. There are heavy short positions around $3,768.9, making it a strong resistance level.

Ah, Ethereum—the digital currency that everyone talks about but no one truly understands. Its price continues to hover near a key resistance level after weeks of upward momentum, as if pondering whether to ascend to greatness or retreat into mediocrity.

Meanwhile, whales and institutions—those mysterious overlords of finance—are accumulating ETH like it’s the last roll of toilet paper before an apocalypse. They see the dip as an opportunity, because apparently, they don’t have enough yachts yet. 🛥️

ETH Accumulation Surges (Because Why Not?)

In the past 24 hours, blockchain trackers Lookonchain and Onchain Lens revealed that whales and institutions have been hoarding ETH faster than a squirrel gathering nuts for winter. A newly created wallet, 0x8eEa, purchased a staggering 33,644 ETH worth $125.73 million via FalconX. Yes, you read that correctly. One wallet. Millions. Just… because. 😎

With this acquisition, the whale’s total holdings now soar to 105,977 ETH, valued at $397 million, all within four days. Four days! That’s less time than it takes most people to decide on a Netflix show. 🐳

But wait, there’s more! Another newly minted wallet bought 32,640 ETH worth $122.18 million through OTC deals. Now its holdings stand at 43,787 ETH, valued at $163 million. Clearly, these whales are playing Monopoly with real money. 🎲

And let’s not forget SharpLink Gaming (Nasdaq: SBET), often called the “MicroStrategy of Ethereum.” Last week, they purchased 79,949 ETH, bringing their total holdings to 360,807 ETH—a 29% increase from the previous week. If this isn’t a race, it’s certainly a very expensive jog. 🏃‍♂️💨

ETH Price Momentum Remains Flat (Yawn…) 🤷‍♂️

Despite all this whale activity, ETH’s price remains stubbornly flat, like a pancake in a world of soufflés. Over the past 24 hours, ETH has barely budged, clinging to the $3,682 level with a modest 0.90% gain. Trading volume dropped by 17%, suggesting traders might be too busy binge-watching cat videos to care. 🐱

AMBCrypto’s analysis shows ETH is technically in an uptrend, but profit-taking has set in after its impressive 35% rally. The asset is consolidating around the $3,650 support level, which acts as both a safety net and a psychological barrier. If sentiment shifts and the price falls below this level, brace yourself for an 8% drop to $3,300. But hey, who doesn’t love a good bargain? 🛒

On the flip side, if ETH holds above $3,650, it may rally back to test the $4,000 mark. Because why settle for mediocrity when you can aim for glory? 🚀

Major Liquidation Levels to Watch (Or Ignore) 🎯

According to CoinGlass, traders have built $290 million worth of long positions at $3,359.7 and $589.17 million worth of short positions at $3,768.9. These figures suggest traders are bearish, believing ETH won’t breach $3,768.9 anytime soon. Perhaps they’re just being cautious—or maybe they’ve seen too many crypto horror stories. 👻

So, dear reader, should you buy ETH? Sell ETH? Or simply ignore it and go back to your life? The choice is yours—but remember, in the wild world of crypto, even the whales aren’t always right. 🐋💡

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2025-07-24 01:15