Ethereum Gains 50% in 3 Weeks as Whales Accumulate and Exchange Reserves Hit Record Lows

Major Ethereum whales added over one million ETH to their holdings within 48 hours, signaling strong accumulation.

Despite an 8% dip, Ethereum exchange reserves remain at record lows, indicating limited selling pressure.

Ethereum successfully retests major supports, reflecting the bullish structure of the earlier 2024 range

In the past three weeks, Ethereum has surged more than 50%, reflecting that many investors are once more buying the asset and continuing the uptrend.

Whale Activity Reflects Growing Confidence

Large Ethereum holders have also been aggressively adding their positions. Ali_charts, a market analyst, reported in a tweet that among the biggest holders on the Ethereum network, more than one million ETH were added in the past 48 hours. This also reflects a rising accumulation trend among whales in the recent movement in prices of Ethereum.

Reinforcing this sentiment, Ted Pillows, a notable market commentator, emphasized that despite an 8% dip in ETH’s price, exchange reserves have remained at record lows. This metric suggests that long-term holders and institutional buyers are not moving their tokens to exchanges, indicating limited intent to sell.

It’s clear that many investors believe Ethereum will have lasting value. They are preparing for future earnings, although the market’s short-term movements can be very unpredictable right now.

Ethereum Mirrors Historical Support Patterns

Ethereum's technical behavior is also drawing attention. Rekt Capital noted that the asset has been successfully retesting a key support level for several weeks. The current pattern closely resembles the early 2024 market structure, although this time, the retest duration is extended.

Source: RektCapital

This repeated support behavior adds weight to the view that Ethereum's current trend could continue upward, supported by historical price performance. The formation is being interpreted by analysts as a healthy consolidation rather than a reversal.

Such sustained support, coupled with the current accumulation phase, gives further structure to the ongoing rally. The longer Ethereum maintains this pattern, the more likely market participants will treat it as a foundational level for future growth.

Analyst Perspective Signals Long-Term Opportunity

Ted Pillows also compared the current Ethereum price structure to Bitcoin when it traded around $4,000. His commentary positions the current ETH phase as a high-reward entry point for long-term investors.

This statement comes on the heels of Ethereum’s sharp rise, with ETH gaining more than 50% in just three weeks. The analyst claims this movement validates his earlier call on the market bottom, aligning with the current bullish structure supported by whale behavior and technical analysis.

Exchange reserve data and wallet accumulation trends together provide a foundation for Ethereum’s momentum. Market participants are watching closely as price consolidates, supported by reduced exchange supply and increased demand.

The post Ethereum Gains 50% in 3 Weeks as Whales Accumulate and Exchange Reserves Hit Record Lows appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.