Ethereum price is back above the psychological $3,000 mark, staging a modest but meaningful rebound after days of downward pressure. The second-largest cryptocurrency is up around $1.30% today, snapping a short-term bearish streak and hinting that buyers may be quietly regaining control. The move comes after ETH price briefly slipped below $3000 earlier this week.
But instead of accelerating lower, ETH price found demand near the $2700-$2800 zone. While the recovery is still in its early phase, on-chain activity and technical structure suggest that the recent dip may have been more of an accumulation opportunity than a trend reversal.
Whales Step In as Smart Money Buys the Dip
On-chain data paints a clear picture of strategic positioning beneath the surface. Data shows that a large OTC whale address acquired 10,000 ETH worth nearly $29 million during the market pullback, despite broader weakness. In a separate transaction, another institutional entity borrowed $70 million USDT from Aave and used it to purchase 24,555 ETH valued nearly $75.5 million, signaling high-conviction dip buying.
These flows suggest that large players are not waiting for confirmation from price action. Instead, they appear to be positioning ahead of a potential structural shift. At the same time, an early Ethereum OG wallet deposited 14,183 ETH worth around $42 million to Coinbase. While such deposits are often interpreted as selling pressure, this move appears more consistent with selective profit-taking rather than broad distribution, especially when contrasted with the scale of ongoing accumulation elsewhere.
Taken together, the data highlights a market split between long-term holders securing gains and institutions aggressively building exposure at current levels.
Ethereum Price Structure Signals 50% Upside Scenario
Ethereum’s price chart structure continues to showcase a bullish medium-term outlook. On the daily chart, ETH price remains locked inside a rising macro structure, forming a series of cyclical rounded bases that have historically preceded massive rallies. The current price structure suggests that the recent dip toward the $2700-$2800 region may represent a higher low within a broader accumulation phase.
If broader market sentiment favors bulls, Ethereum price may see a potential 40-50% upside move, which could place ETH in the $4200-$4800 zone in the near term. As long as ETH price holds above $2700, the broader bullish structure remains intact. However, a break of that level would invalidate the pattern and re-open downside risk toward $2400.
Overall, Ethereum’s price reversal toward $3000 combined with whale accumulation and a bullish structural base, suggests that the market is cooling for a breakout, with a 50% upside move increasingly back in play.
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