On Thursday, March 27th, the crypto market recorded low volatility trading, evidenced by neutral candle formation in pioneer cryptocurrencies like Bitcoin and Ethereum. The current slowdown in recovery momentum can be linked to the recently imposed 25% tariff by the United States on foreign cars. While the risk of continued correction may scare short-term speculators, the crypto whale showed renewed interest in ETH, indicating an opportunity for a bullish rally.
Key Highlights:
- The Ethereum price faces a 10% drop before retesting a major accumulation zone at $1,870.
- Whale activity has surged, with $31 million worth of ETH accumulated amid market uncertainty.
- The ETH price reversal from the 20-day Exponential Moving Average indicates a high-momentum selling trend is intact.
Whale Accumulation Highlights Renewed Confidence in Ethereum
Amid the ongoing market uncertainty, the Ethereum price plunged from $2,153 to $2,000 current trading value, registering a risk of 5.18%. Despite the pullback, the latest onchain data showed renewed accumulation from large-scale investors, accentuating their confidence for a bullish recovery.
According to blockchain analytics platform Lookonchain, a newly created wallet identified as 0x114E withdrew 7,100 ETH worth approximately $14.27 million from Gemini four hours before reporting.
Another significant movement was recorded from wallet 0xC377, which withdrew 4,709 ETH (valued at $9.47 million) from Binance. The ETH was deposited to leading protocol Aave to borrow an 8 million USDT loan, which was again deposited back to Binance to accumulate more ETH.
Whales are accumulating $ETH!
The newly created wallet “0x114E” withdrew 7,100 $ETH($14.27M) from #Gemini 4 hours ago.
0xC377 withdrew 4,709 $ETH($9.47M) from #Binance 8 hours ago and deposited to #Aave, then borrowed 8M $USDT from #Aave and deposited to #Binance, possibly… pic.twitter.com/gaCbb6Edld
— Lookonchain (@lookonchain) March 27, 2025
The accumulation trend continues as a wallet address ‘0xC479’ withdrew 2,697 ETH (~$5.44 million) from OKX and another wallet of ‘0xCb44’ bought 1,427 ETH($2.86M) from Kraken and staked it
The aggressive accumulation by these smart money wallets, coupled with their strategic use of Ethereum in DeFi protocols, highlights a strong confidence in ETH growth potential.
ETH Price Faces 10% Downturn But There’s Catch
In the last two weeks, the Ethereum price showed a bullish reversal from $1,822 support to $2,000 current trading price registering a growth of 10%. However, this upswing backed by diminishing volume amid an uncertain market trend signals a prolonged correction.
The downward slope in daily EMAs (20 < 50 < 100 < 200) also accentuates the path to least resistance is down. Therefore, the ETH price could plunge over 7% and retest the ascending support trendline intact since March 2020.
This dynamic support has acted as a major accumulation trend of Ethereum coin as each reversal led to a major upswing in price.
Thus, the renewed whale accumulation at this major bottom support hints at a higher possibility for Ethereum price recovery.
Also Read: Pepe Coin Set to Exit 100-Day Correction Amid Whale Buying
