- Ethereum remains above $3,500, with traders watching $3,450–$3,700 levels to confirm the next breakout or downward continuation trend.
- A whale borrowed $120 million through Aave, and transferred the funds to Binance for large-scale Ethereum accumulation and liquidity movements.
- ETF outflows reached $183.7 million,which is a reflection of shifting institutional exposure to Ethereum’s market position.
Ethereum is sustaining momentum above $3,500 as institutional withdrawals intensify.Market dynamics, evolving liquidity patterns and concentrated accumulation are shaping short-term trading activity.
Technical Chart Setup and Market Scenarios
Ethereum’s price has reclaimed the $3,500 level, a region viewed as crucial for sustaining short-term strength. ETH/USDT daily chart indicates resistance between $3,650 and $3,900, with key demand zones seen from $3,160 to $3,320.
ETH is trading near the lower end of its mid-range following a recent decline.The analysis presents three possible paths.
Source Ted on X
If ETH breaks $3,648 resistance it could push towards targets around $3,702 to $3,900. However,a rejection would lead to a temporary pullback toward $3,320 before another upward attempt.
A bearish outcome could occur if ETH fails to maintain the $3,320 and $3,166 supports, sending prices closer to $3,000.Current sentiment remains cautiously optimistic as higher lows form around $3,200.
Whale Borrowing and On-Chain Movements
Data shared by Coinbureau reveals that a whale wallet, nicknamed “66kETHBorrow Whale,” borrowed $120 million USDT from Aave and transferred the funds to Binance, potentially preparing to purchase more Ethereum. The same wallet previously acquired 385,718 ETH worth about $1.33 billion.
The whale has also conducted multiple transfers of more than 110,000 ETH, valued around $380 million, between Aave’s Wrapped Token Gateway and personal wallets.Such huge movements often precede market adjustments through large purchases and strategic restructuring.
These activities are signalling growing whale involvement, which could influence Ethereum’s short-term liquidity and volatility.
ETF Outflows and Market Sentiment
Ethereum ETFs saw outflows of around $183.7 million yesterday, with BlackRock alone selling $91 million in ETH holdings.On-chain data shows that ETH balances on centralized exchanges have been steadily declining since mid-August.
This trend looks like an accumulation phase, as investors move tokens to private wallets or staking contracts.
While falling exchange balances typically support upward price movement, recent months show a divergence,which may have been likely influenced by broader macroeconomic factors.
Despite these outflows, Ethereum trades at $3,506.73, down 0.42% over the past 24 hours but still showing a 3.58% gain for the week.Ethereum remains range-bound, supported by steady long-term accumulation and institutional positioning.
