- Ethereum whales reappear on Binance since May 19, indicating early positioning ahead of what could be a broader upward market trend.
- ETH price continues to reject the $2,700 resistance, while bulls strongly defend $2,500, establishing a narrow but vital trading range.
- Technicals show reduced volume and a tight price range, suggesting the market awaits a decisive breakout to resume upward momentum.
Ethereum (ETH) is drawing attention once again as large investors return to Binance. The cryptocurrency currently hovers around $2,522, defending a key support zone despite recent rejections from higher levels.
Whale Activity Signals Return of Momentum
Market watchers have noted a resurgence of whale activity on Binance, particularly since May 19. Market analyst Darkfost_Coc highlighted this movement, pointing to a chart that tracks sentiment and momentum through Ethereum’s spot and futures data. According to the tweet, this indicator has lit up similarly only once before—in December 2023. At that time, Ethereum surged from $2,200 to $4,000 in just a few weeks.
This renewed whale presence does not suggest a bid to catch the market’s absolute bottom. Instead, it reflects a strategic positioning ahead of what may become a broader upward trend. Such behavior suggests increased confidence among larger players, who often act early in emerging market cycles. The chart referenced combines spot and futures trading volume, including cumulative metrics and moving averages, to offer a unified market signal.
$2,700 Resistance Remains a Critical Level
Despite multiple attempts, Ethereum has failed to break through the $2,700 resistance zone in recent weeks. Each upside move has been capped around this level since early May. However, the price continues to find buyers around the $2,500 level, now acting as short-term support.
Current market behavior points to a range-bound structure. A decreasing trading volume frequently signals an approaching market breakout. An upward price movement might trigger if Ethereum successfully regains and maintains its position above the $2,700-$2,800 price zone. The market could move towards testing the $3,000 price level if it breaks past this particular zone.
Bulls are currently focused on maintaining the $2,500 support to prevent further pullbacks. Holding this level could provide the stability needed to build momentum toward another breakout attempt.
May Shaping Up as a Key Month
The reappearance of whale orders in May suggests that this period could be pivotal for Ethereum’s short- to mid-term trajectory. Darkfost_Coc noted that these large traders typically move when early macro trend signals become visible. While they may not wait for the absolute bottom, their actions often precede major price movements.
This aligns with the current technical setup, where Ethereum appears to be preparing for a breakout decision. With whales back in the market and key support holding, investor attention is likely to remain focused on the $2,700–$2,800 resistance. Should this level be breached with conviction, ETH may once again attract strong buying interest and extend its upward path.
