Key takeout
Does Ethereum Whale buy more ETH now?
Major Ethereum whales like Bitmine purchased over 252,000 ETH in three days.
What will be the eth price for the fourth quarter?
If historical trends repeat, ETH can double the next quarter.
Ethereum [ETH] The whales are making serious noise.
Eth Treasury Company Bitmine has just purchased over 252,000 ETH in just three days, increasing its stash to a whopping $8.84 billion. And they are not alone. Other major players are also stacking up ETH.
Analysts warn that there may be a short pullback on the card, but there is reason to believe this is merely a prelude to something explosive.
Whales make waves with large ETH purchases
The whale just snapped $15 million worth of ETH, and it’s not an isolated movement.
Source: x
Tom Lee’s Bitmine bought and shopped 252,441 ETH in just three days. This will result in total storage of more than 2.2 million ETH, worth $8.844 billion.
Source: x
Another big story is that it’s back in the Whale Wallet 0XE37F (which sold 1,857 ETH for $2,251 just five months ago). Today, it grabbed 1,501 ETH for $4,114 each for $6.17 million.
Source: x
However, while whales are loading, the Ethereum ETF shows the opposite trend.
Source: SosoValue
This week, the product bleed significantly, with a total of $795.56 million.
This sharp turnaround wiped out much of the momentum built in August and early September. That’s when the inflow boosted net worth over $30 billion.
At the time of writing, the managed assets had returned to $26 billion.
Q4 can I push ETH to the moon?
Ethereum has had quite a few years of ups and downs, but Q4 was able to guide us into the light.
Source: Coinglass
When ETH last shut down Q3, this strong quarter more than doubled, pushing prices to new highs.
Source: x
According to analyst Tedpillows, ETH is in a healthy fix after collecting nearly 250% from the bottom, but this is normal with a big upward trend.
If the pattern applies, once this pullback is complete, the next leg can have an ETH of over $10,000.
The coming months could be decisive as seasonal data points to strong finishes and prices still fall within the long-term upward channel.
Short-term outlook
Ethereum appears to have held his breath after last week’s drop. The price bounces over $4,100 and appears to be stable.
Source: TradingView
RSI was under 45 years of age. This means that ETH is not oversold, but there is room for pushing even higher if the purchase is picked up. Meanwhile, trading volumes remained light, so the momentum is still not strong.
If the Bulls can defend the $4,000 level, the next move could be steadily climbing. But once the floor gave way, we could see another leg falling down before recovery began.