- Ethereum transactions above $1M rose from 1,202 to 7,113, while whales accumulated over 320,000 ETH worth $864M.
- More than 13.3M ETH previously traded between $2,722 and $2,822, creating a major resistance zone for ETH.
- ETH trades near $2,648 after rejecting $2,700, with $2,600 as immediate support and 2,500-2,550 below.
Ethereum whale activity has surged as large holders accumulated more than $864 million in ETH over the past week. Analyst Ali Charts reported that transactions exceeding $1 million increased nearly 500%, rising from 1,202 to 7,113. However, Ethereum continues to face resistance between $2,722 and $2,822, where substantial trading activity previously occurred.
Whale Transactions Jump Nearly 500%
According to Ali Charts, Ethereum recorded a sharp increase in high-value transactions over the past week. Transactions worth more than $1 million climbed from 1,202 to 7,113, marking a nearly 500% rise.
Notably, the increase coincided with accumulation among large holders. Whales added more than 320,000 ETH, valued at approximately $864 million at current prices.
This accumulation comes as Ethereum trades below a major resistance zone identified by the analyst. Ali Charts placed that supply wall between $2,722 and $2,822, where more than 13.3 million ETH previously changed hands.
$2,822 Resistance Remains a Major Barrier
Ali Charts identified the 2,722–2,822 range as Ethereum’s main obstacle to further gains. The analyst noted that several failed breakout attempts could occur before ETH decisively clears the zone.
Beyond this range, Ali Charts highlighted resistance near $2,970 and $3,366. The analyst described these levels as comparatively smaller hurdles, while emphasizing the importance of breaking through the existing supply wall.
Meanwhile, Ethereum’s four-hour chart shows a pullback after its recent recovery. ETH rose from around 2,380–2,400 on September 16, reaching approximately 2,750–2,780 on September 21–22.
ETH Pullback Tests $2,600 Support
Ethereum recently traded at $2,648.28 after failing to hold above $2,700. The price had previously broken through $2,500 and $2,600 during a volume-backed advance. The $2,600 level now represents immediate support, while a deeper decline could expose the 2,500–2,550 range. A move above $2,700 could bring 2,750–2,800 back into focus.
Momentum indicators show some weakness. The RSI is at 40.25, below its moving average of 49.21, while remaining above the oversold threshold of 30. The MACD line is at -5.82, compared with a -6.43 signal line, and its histogram reads +0.60.
