ETH at $1,500: TD Sequential buy signal and whales reaccumulate
Ethereum (ETH) hit a 14-month low near $1,500 after a broad sell-off, including FUD on X about ConsenSys co-founder Joseph Lubin “selling.” Traders now have a more constructive setup as ETH shows signs of stabilization.
On the charts, the TD Sequential indicator has flashed a daily buy signal after ETH’s near-40% drop from the rejection zone in May. ETH also fell versus Bitcoin, reaching an ETH/BTC level around 0.026 during Friday’s market crash.
Analyst Michaël van de Poppe argues this ETH weakness could be strategic accumulation, citing likely peaking yields in the short term and the upcoming “CLARITY Act” vote as a potential “sell the rumor, buy the news” catalyst.
On-chain data adds to the rebound narrative. An Ethereum OG whale reportedly bought about 56M USD worth of ETH below $1,570 after previously selling above $2,000. Lookonchain also flagged a wallet linked to Chun Wang accumulating over $28.5M in ETH.
Most unusually, Lookonchain reported that the anonymous hacker behind the Pando Rings attack spent 10M DAI to purchase 6,234 ETH at roughly $1,602—framing even the attacker as adding to the ETH dip.
Overall, the article suggests ETH sell-pressure may be nearing exhaustion, with technical buy signals and multiple buyer categories re-emerging at lower levels.
Bullish
The news is bullish because it combines (1) a clear technical exhaustion signal for ETH (TD Sequential daily buy trigger) with (2) real on-chain reaccumulation at lower price bands, including large wallets and even a DAI-funded purchase by the Pando Rings attacker. Historically, when major drawdowns coincide with a daily “buy” exhaustion indicator and large holders step back in, ETH often experiences a tradable rebound (even if the broader trend remains uncertain).
Short-term: ETH’s recent collapse to ~$1,500 plus the ETH/BTC dip to ~0.026 suggests relative weakness versus BTC may be close to a capitulation zone. Traders may position for mean reversion or a bounce, especially with the article’s cited catalysts (peaking yields + CLARITY Act vote). Watch for follow-through volume; otherwise, the rebound may fail quickly.
Long-term: Reaccumulation by multiple investor categories can reduce immediate sell pressure and improve sentiment. However, the presence of continued FUD (Lubin “selling” rumors) means volatility could remain high until confirmation arrives. If accumulation persists through the event window, it can shift ETH from “oversold rallies” to a more durable recovery phase.