• Ethereum whales accumulate 295,861 ETH ($1.19B) amid market fear, signaling a possible bullish reversal.
• Analysts highlight $3,500 as a key support zone and $2,200 as a long-term entry level for ETH.
• The ETH projection indicates the possibility of a major rally pushing prices near $10,000.

Ethereum (ETH) faces mild downward pressure but continues to demonstrate resilience in a bearish market environment. The ETH has fallen 2.22% over the last 24 hours and 13.13% over the past week.

At the time of writing, ETH is trading at $3,934.01 with a trading volume of $62.42 billion, having surged by 44.04% over the last 24 hours. The token’s market capitalization stands at $475.97 billion, registering a slight decline of 2.17%.

Source: CoinMarketCap

In general, the crypto market trend has turned bearish with the BTC’s downward movement and investors decreasing confidence in the crypto sector. This has impacted the overall market, including altcoins.

Ethereum Whale Accumulation Hints at Next Rally

A prominent crypto analyst, Nonzee, highlighted that Ethereum whales have quietly accumulated 295,861 ETH (around $1.19 billion) in the past 24 hours, even as fear spread across the market. Sharp sell-offs, or scare dumps, appear to fuel panic among retail traders. Meanwhile, whales strategically loaded up through centralized exchanges and OTC deals.

Source: X

Analysts point to this as a classic accumulation tactic, shaking out weak hands while building massive positions at lower prices. Such moves often precede larger market shifts, suggesting whales may be preparing for Ethereum’s next bullish phase. 

Also Read: Ethereum Struggles Below $4,045 Support Zone as Bears Gain Control

ETH Price Could Hit $10,000 Amid Market Volatility

The crypto analyst, Crypto Patel, revealed that Ethereum is sparking waves, with analysts discussing a possible surge to the $10,000 mark within this bull cycle. Since demand is being fueled by institutional buying, the majority see each sell-off as a buying opportunity. Key areas include $3,500 as an initial breakout price and $2,200 as an even longer buy zone.

Source: X

The bull sentiment is fueled by the staking of ETH reducing supply, on-network upgrades that improve scalability, and skyrocketing Web3 development. Speculation is that the status of Ethereum as the hub of digital evolution puts the token on an exponential return trajectory. The giant question for today is will ETH maintain its footing and breach the five-digit ceiling?

Ethereum Community Shows Dominant Bullish Sentiment

According to the data from CoinMarketCap, the community sentiment shows an extremely strong bull sentiment because 82% of respondents expect prices to rise. Out of 1.8 million votes that have been cast, most are overwhelmingly choosing positive momentum. This shows widespread optimism and trust that there will be growth ahead.

Source: CoinMarketCap

On the other hand, 18% of voters hold a bearish view, anticipating a decline. Although that’s a lower percentage, that’s still a cautious minority. Their attitude shows that there is concern over potential threats despite an overriding bull trend.

Also Read: Ethereum Price Faces Key Test at $3,650 as Mid-Sized Sharks Dominate Accumulation