Ethereum Big Big People Don Gather $1.6B as ETH dey Look $4,900 Breakout
Ethereum whale wallets don gather more than $1.6 billion in ETH recently—about $1.34 billion for eight days and $279.5 million for 24 hours—based on on-chain data. Arkham Intelligence link plenty of this recent buying to Bitmine, wey carry over 1.174 million ETH, plus institutions like Sharplink Gaming dem still dey expand their positions.
Ethereum exchange supply don drop to record low, and OTC desks dey report ETH shortage, wey mean say supply fit squeeze soon, fit make price rally strong. On-chain indicators dey point to liquidity tightening as demand rise.
Technically, ETH dey trade near key resistance around $4,300–$4,400 and dey try break ceiling at $4,900. The coin dey solidly above 50-, 100-, and 200-period SMAs on main charts. If e breakout sharply above $4,900, e fit trigger momentum buying toward new all-time highs, but if e no clear resistance, e fit cause pullback to support zones between $4,025 and $3,822.
Bullish
Di sustained whale accumulation of over $1.6 billion for ETH, combine with decline for exchange reserves and reported OTC shortages, dey show say demand don increase and supply dey reduce. Technical indicators dey support this bullish side: ETH dey trade above important moving averages and dey test critical resistance zones. This one mean say momentum dey go up, success break pass $4,900 fit drive more gains. If e no clear resistance, short-term correction fit happen but overall on-chain demand plus technical strength dey support better outlook for Ethereum.