Ethereum’s price is like that guy who says he’s gonna do something but never really gets around to it. It’s been mostly hanging out around $4,430 for the past week, with a stellar 1.3% rise. Yeah, not exactly a rocket ship to the moon, but hey, it’s something.
Despite the lackluster performance, some sneaky accumulation is going on behind the scenes. Looks like something might be brewing under the surface… maybe? Who knows?
Whales and Short-Term Holders Quietly Accumulate
So, here’s the juicy part: Ethereum whales. They’re not just sitting on their hands. On-chain data reveals that these big fish have gobbled up nearly 870,000 ETH in the last 24 hours. This bumps their stash from 99.34 million to 100.21 million ETH. Impressive, right?
At the current price of $4,440, that’s about $4 billion-yup, you read that right, FOUR BILLION DOLLARS in a single day. Probably just a casual Wednesday for these guys.
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Why would whales be making these moves? Well, it’s like they’re setting up for a breakout, not preparing to flee after a rally. Because who doesn’t love a little drama?
But wait, there’s more! The little fish aren’t just sitting on their fins either. Smaller holders, the short-term traders, have been quietly scooping up some ETH too. According to Glassnode’s HODL Waves, short-term holding activity has been rising, with the 24-hour cohort up from 0.34% to 0.87%. I mean, that’s something, right?
Rising short-term holdings during a quiet price week usually mean more traders are jumping back in-adding liquidity and momentum. It’s like when you finally show up to a party, and the place is already packed. No one remembers you, but you’re there!
Put it all together-whales and short-term traders are hinting that Ethereum’s calm right now is just a cover-up for something big. Maybe. Or maybe not. Who knows?
Ethereum Price Chart Structure Supports the Accumulation Narrative
Ethereum’s chart structure looks like it’s playing a slow game of chess, with the price sitting between two key Fibonacci levels-$4,400 and $4,620-forming an ascending triangle. Sounds fancy, right? Basically, the price keeps hitting higher lows while the resistance line just chills there, being flat. Classic setup for a breakout.
And then there’s the hidden bullish divergence between August 25 and October 9. This is the moment when the price makes higher lows, but the Relative Strength Index (RSI) is doing the exact opposite, making lower lows. Confusing, I know. But it’s a good thing, apparently. It’s like the market’s telling us, “Don’t worry, we’re still on track for a nice upward move.”
This whole hidden bullish divergence thing usually pops up during market corrections, signaling that the bullish trend might not be done yet. If Ethereum manages to break above $4,620, we could see a surge towards $4,870 or even $5,130. Fingers crossed, right?
But hold your horses-if Ethereum dips below $4,400 (and stays there, not just a temporary blip), we might be looking at a pullback to $4,240 or $4,070. That would crush the short-term optimism. Sad trombone.
So yeah, for now, both whales and short-term traders are holding their breath. The big question is: can Ethereum break above $4,620 and finally start its next big move? We’ll see. Probably. Maybe.
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2025-10-09 18:20