Ethereum whales buy $322M ETH as price holds $2,300

Ethereum whale activity has increased as large holders added more ETH over the past four days. 

According to Ali Charts, whales accumulated over 140,000 Ethereum in 96 hours, worth about $322 million.

The buying comes as ETH trades near $2,305.11. The asset recorded a 0.1% gain in 24 hours, while it remained down 1.04% over the past seven days. Daily trading volume stood at $6.8 billion.

Whale holdings rise as ETH price stays flat

The chart shared by Ali Charts shows a steady increase in Ethereum held by whale wallets. Holdings rose from about 13.78 million ETH to nearly 13.98 million ETH between May 1 and May 3.

This points to steady buying by large holders, not a single large transfer. The move also suggests that major wallets are adding exposure while price action remains quiet.

However, traders are still waiting for stronger confirmation. ETH has remained close to $2,300, and market momentum has not yet followed the whale buying trend.

$2,200 remains key support for Ethereum

Ethereum is still trading above the $2,200 support area. Analysts view this level as important for the current market structure.

If ETH holds above $2,200, the price could continue its slow recovery toward the $2,800 resistance zone. A move above $2,400 may also give traders a stronger long setup.

However, the downside risk remains clear. A breakdown below $2,200 could weaken the structure and open the way toward $1,900.

The intraday outlook also remains mixed. The chart was described as “choppy and slow,” with traders waiting for a better structure before entering new positions.

$2,400 breakout may decide the next move

ETH has formed a base around the $1,800 to $2,000 area after a sharp decline earlier in the year. Since then, the price has printed higher lows, showing a gradual recovery.

Still, Ethereum remains below a major descending trendline. The $2,400 area is the nearest resistance. A clean breakout above it could support a move toward $2,600 and then $2,800.

The broader resistance near $3,700 remains far above current levels. That area still marks a major test for any wider recovery.