Is It Good Time to Invest in ETH as Whale Buys For Milions of Dollars
Amidst ongoing bearish market sentiment, a significant crypto whale has made a massive purchase of Ethereum (ETH), indicating confidence in the asset despite current market conditions.
As of March 29, 2025, on-chain analytics firm Lookonchain revealed that the whale has acquired 3,195 ETH, valued at $5.97 million.
The whale’s buying spree doesn’t stop there. Since March 26, 2025, the same investor has accumulated a total of 29,341 ETH, worth approximately $58.18 million, with an average purchase price of $1,983 per token. This large-scale accumulation suggests the whale sees Ethereum as an ideal investment at current prices, potentially signaling a bottom and a future upside for the token.
Key Levels for Ethereum
Despite this massive accumulation, ETH’s price remains relatively unchanged, trading near $1,811 at the time of writing, reflecting a 3.6% price decline over the last 24 hours. Moreover, trading volume has decreased by 32.8%, indicating lower market participation compared to previous days.
According to technical analysis, ETH has reached a critical price level that could determine its next move. Currently, Ethereum is forming a double-bottom pattern on the daily chart with strong support around the $1,820 level. If ETH manages to hold above this level, it could see a rally of up to 17%, potentially reaching the $2,100 level.
However, if Ethereum falls below the support level and closes a daily candle under $1,800, it could experience a 15% drop, with the next potential support around the $1,550 level.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a "detective-like" mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
