Ethereum shows new strength after a sharp but short-lived pullback. Following its recent high of $3,860, ETH has soaked into the $3,500 zone. This is an important level that immediately attracts interest on your purchase. Now, price action is heading up again, with Ethereum being pushed to regain the $3,700 range, with bullish momentum being controlled.
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Despite recent volatility, on-chain data supports continuous upside down cases. According to Santiment, whales are actively accumulating ETH through pullbacks. This surge in accumulation suggests that institutional players are positioning themselves ahead of the feet of the next rally, predicting strength in the coming months. These strategic influx have preceded a historically sustained upward trend.
Coupled with Swift Recovery’s attempts, the resilience around the $3,500 level underscores the strong bullish structure of Ethereum. Due to the favorable macro environment, clarity of regulations, and increased institutional interest, Ethereum As the second half of the year unfolds, it appears poised for continuous expansion. Whether this bounce will be held and lead to a new breakout that outweighs resistance is all in every eye.
Whale adds Ethereum as US legal clarity boosts bullish outlook
Ethereum’s bullish momentum is strengthened by an aggressive accumulation from key investors. According to For analyst Ali Martinez, the whales have purchased more than 1.13 million ETH (approximately $4.18 billion) in the past two weeks. This surge in purchasing activity has been one of the most important accumulation stages in recent months, indicating increased confidence among institutional players.
The accumulation comes at a critical time for Ethereum, which is consolidated near the $3,700 level after a short pullback from $3,860. The whale activity not only adds fuel to the ongoing price recovery, but also strengthens Ethereum’s bullish structure towards the later of this year.
Beyond market behavior, macro and regulatory changes also support Ethereum and the wider altcoin market. The recent passage of the US Congress of Genius and Clear Laws marks a pivotal moment for cryptography. These new laws provide years of legal clarity for decentralized financial (DEFI) platforms and digital assets, driving innovation and capital flows based on the US.
This evolving regulatory framework removes one of the biggest barriers for institutional adoption of Ethereum and debt. With clearer rules and a growing appetite for whales for ETH, the setting is set in a potentially explosive rally if current momentum applies.
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ETH becomes stronger after pull back
Ethereum (ETH) shows updated strength after a short revision of $3,860 from the local top. As seen on the four-hour chart, ETH immersed in $3,500, but quickly bounced back, regaining a $3,700 zone, closing out the key resistance with $3,776 and $3,860. This rebound shows the interest and resilience of strong uptrend buyers.
Prices are currently trading above the main moving averages (50, 100, 200) and stacked on top of anything else. The $3,648 50-SMA offers dynamic support in recent sessions, with the 100-SMA and 200-SMA at $3,304 and $2,883 respectively, far below the current price action, excluding the strength of this upward movement.
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Volume is picked up slightly as ETH integrates in a tighter range that is close to resistance. Breakouts above $3,860 could open the door to travel to a new local high, but if this level doesn’t violate, another test of the $3,648 support area could occur.
Dall-E special images, TradingView chart
