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Ethereum Price Needs 7% Rise to Confirm Rebound Despite $290M Whale Buying

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ETH
$2,929.63-0.23%
Ethereum price today remains near $2,930 despite whale movement showing 100,000 ETH, or $290 million, being quietly accumulated by on-chain whales and institutions. A 7% rise to $3,122 is needed to confirm a rebound, with $2,615 as key support. Santiment and Lookonchain data reveal large holders, including Fasanara Capital and Bitmine, are using leveraged strategies and withdrawing from exchanges, signaling long-term holding intentions. Institutional buying, while not yet moving the market, suggests preparation for a potential upward move.
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