Ethereum holders bought $ 269 million worth of cryptocurrency in just 12 hours

Ethereum ETH $3,169.12 Bridged Ether (StarkGate) -2.04% Market capitalization $71.17 million VOL. 24 hours $3.1 billion is holding a key support level around $ 3,000, demonstrating stability after the recent market volatility. The second-largest cryptocurrency by capitalization is trading in the range of $ 3,450−3,560, which, according to analysts, is a critical level for maintaining the uptrend. The previous decline in mid-November brought the price of ETH down to $ 3,400, but the asset quickly stabilized.

The $ 3,000 level is now considered the main support zone that determines the further movement of Ethereum. Traders note that fixing the price above this threshold could open the way to $ 4,300 in the coming weeks. Over the past few days, ETH has been fluctuating between $ 3,348 and $ 3,700, indicating a consolidation phase rather than a trend reversal. The $ 3,700 zone has become a new resistance level, with at least three bounces from this level recorded on Bitfinex charts since the end of October.

Despite the slight weakness in the price, large investors are actively increasing their positions. According to the blockchain, one of the confirmed institutional wallets purchased 75,418 ETH (approximately $ 269 million) through Binance within 12 hours, bringing its total holdings to 266,901 ETH — about $ 949 million at the current exchange rate. In November, the total volume of purchases by large wallets exceeded $ 1.37 billion, despite a 12 percent drop in the asset’s price.

Analysts believe that this behavior of large players forms a «soft bottom» for Ethereum. Although this does not guarantee immediate growth, accumulation by institutions usually signals confidence in current price levels. The current support zone is forming between $ 3,520 and $ 3,348, where long liquidations are concentrated, which can cause short-term price spikes.

The nearest resistance levels for ETH are at $ 3,631, $ 3,665, and $ 3,707. Overcoming these barriers could resume growth, especially if bitcoin continues to move upward. According to technical analysts, the current corrective phase of Ethereum may end soon, creating the preconditions for a new stage of growth.