Ether (ETH) continues to demonstrate robust resilience above the critical $3,500 support level despite Bitcoin’s recent market correction. The asset maintains its position above both the 50-day and 200-day exponential moving averages, signaling underlying strength amid broader volatility.
Substantial whale accumulation has provided key support, with large holders acquiring over 540,000 ETH—valued at nearly $2 billion—in recent weeks. Institutional interest remains evident through entities like Bit Mine, which accumulated 266,119 ETH within a single week, reflecting sustained confidence in Ether’s fundamentals.
Market analysts highlight a concentration of strategic buy orders totaling 245,000 ETH between $3,000 and $3,400, suggesting potential short-term downward pressure may precede a significant upward surge. Observers including prominent analyst Byzantine General express optimism for a near-term rally toward the $4,000 resistance zone.
Technical indicators reveal a bullish inverse head-and-shoulders pattern forming in ETH’s charts. However, sustained trading below $3,500 could negate this pattern and trigger tests of lower support levels, emphasizing the critical nature of current price thresholds.