news 
Time to Buy ETH? Ethereum Whales $28.5M Worth of Ether
Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, is poised to continue its upside momentum following a notable price decline in recent days. This bullish speculation is driven by investors and long-term holders who have recently been buying the dip in ETH.
The accumulation phase has taken off as four fresh crypto wallets belonging to whales have purchased a significant 8,440 ETH worth $28.43 million from Binance, according to data provided by Lookonchain. This massive purchase occurred during a period when the altcoin’s price had begun to recover after a notable decline.
ETH has regained its crucial support level of $3,400 and recently closed a bullish pin bar candle at this support, characterized by a long wick. The formation of this bullish candle at the support level suggests potential upside momentum in the coming days.
Market sentiment appears to favor the bulls, which could further support the upside momentum.
Source: coinpedia.org
