Key Takeaways
A massive crypto whale with nearly $6 billion in assets has shifted over $3 billion into Ethereum. With $4.8K acting as a major resistance, a breakout could cause ETHs next explosive move.
A powerful whale move is afoot!
One whale, sitting on billions, has shifted a chunk of their holdings in a way that’s turning attention back to Ethereum [ETH].
With sentiment shifting and traders watching key levels, could ETH be setting up for its next big run?
A $6 billion whale turns to Ethereum
The Bitcoin [BTC] whale with nearly $6 billion in holdings made headlines for their move to Ethereum.
Source: Arkham Intelligence
After shifting $1.1 billion into a fresh wallet, the whale snapped up $434.7 million worth of ETH through HyperUnit, pushing his total ETH purchases to more than $3 billion — most of which was already staked.
What’s more, they’re still sitting on around $650 million earmarked for ETH, leaving us guessing about whether the next round of buying could hit today.
Traders are watching $4.8K closely
Ethereum has fully retraced the pump from Fed Chair Jerome Powell’s Jackson Hole speech, a move that some analysts note is a short-term weakness.
As TedPillows put it,
“this doesn’t happen during market strength.”
He shared that he is bearish for now, but still sees $10,000 ETH as programmed this cycle.
Source: X
The key level on everyone’s radar is $4,800 because that’s where more than $7.23 billion in shorts are sitting, waiting to be liquidated.
A clean break above could trigger forced buys, flipping bearish momentum into a rally.
Source: X
In fact, it looked only a matter of when.
Ethereum leads the altseason narrative
Alphractal CEO Joao Wedson noted that whales and market makers often target newer projects, but Ethereum has managed to reclaim the spotlight.
Source: X
AMBCrypto had previously reported ETH leading sector performance with a 0.20 reading, edging out Layer 2s and DeFi tokens after briefly losing ground in mid-August.
By contrast, sectors like gaming, AI, and staking ended Q3 in the red.
ETH holds ground about $4.4K
At press time, Ethereum traded at $4,467, holding steady after recent choppy sessions.
The chart showed ETH consolidating above the $4.4K support, with buyers defending the level despite fading momentum.
Source: TradingView
The RSI at 54.59 (neither overbought nor oversold) showed room for movement in either direction.
Meanwhile, OBV was 12.39M, showing muted but steady buying pressure.
While ETH had retraced from its recent highs, its resilience around the $4,400 mark showed that bulls are still in play. Natually, focus now turned to whether the asset could retest the critical $4.8K resistance next.
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