Ethereum (ETH), the world's second-largest cryptocurrency by market capitalization, has consistently held above critical price levels, maintaining strong interest from investors and long-term holders.
Whale Activity Sparks Market Attention
On January 24, SpotOnChain reported that cryptocurrency whales—including former U.S. President Donald Trump and Tron founder Justin Sun—acquired substantial ETH during the latest market dip.
Key developments include:
- Trump-affiliated World Liberty purchased 3,079 ETH ($10M), significantly boosting its holdings
- The entity accumulated 32,994 ETH ($109.9M) in just four days, bringing total holdings to 74,228 ETH
- Justin Sun-linked wallets deposited $29.2M into HTX and withdrew 9,018 ETH at an average price of $3,237.50
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Market Sentiment and Accumulation Patterns
Recent data reveals compelling trends:
- Exchange outflows reached $51.78M in 24 hours, suggesting accumulation
- Coinglass metrics indicate potential buying opportunities emerging
- Long-term holders appear to be stockpiling ETH despite consolidation
Technical Analysis: Bullish Signals Emerge
AMBCrypto's examination shows:
- ETH formed a bullish falling wedge pattern
- Current consolidation between $3,200-$3,500 may represent profit-taking
- Key resistance at $3,510—a daily close above could trigger 17% surge to $4,100
- RSI at 50 suggests potential price reversal momentum
At press time, Ethereum trades at $3,297, showing minimal 24-hour movement (-0.1%).
Price Projections and Critical Levels
Potential scenarios:
Breakout Case:
- Sustained move above $3,510 confirms pattern
- Initial target: $4,100 (+17% from breakout point)
- Secondary resistance near all-time highs
Consolidation Continuation:
- Range-bound trading between $3,200-$3,500
- Accumulation phase for institutional players
- Requires monitoring volume trends
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FAQ: Key Investor Questions Answered
Q: Why are major figures like Trump buying ETH?
A: Institutional adoption signals confidence in Ethereum's long-term value proposition, particularly with upcoming network upgrades.
Q: What does the falling wedge pattern indicate?
A: This technical formation typically precedes breakouts, suggesting potential upward momentum if resistance levels are breached.
Q: How significant are the current exchange outflows?
A: Sustained outflows often precede price rallies as supply becomes scarcer on trading platforms.
Q: What's ETH's short-term price outlook?
A: Mixed signals—while technicals suggest bullish potential, market-wide factors could prolong consolidation.
Q: How does Justin Sun's involvement affect ETH?
A: High-profile support can boost visibility, though Ethereum's fundamentals remain the primary price driver.
Q: What key levels should traders watch?
A: $3,200 (support), $3,510 (breakout confirmation), and $4,100 (initial target) represent critical thresholds.