TLDR
- Whales purchased 323,523 ETH worth about $1.12 billion during the recent market dip.
- The Ethereum price is stabilizing near $3,309 after falling below the $3,359 support level.
- Analysts believe the current correction is part of a mid-cycle reset before a wave three rally.
- CrediBull Crypto expects Ethereum to revisit the $2,800 zone as a major accumulation area.
- Institutional investors, including BitMine Immersion, increased Ethereum holdings during the correction.
The Ethereum price has drawn market attention as large holders increased their positions during the recent downturn. Analysts suggest the correction may prepare the asset for a sharp move toward $10,000.
Whales Accumulate Over $1.12 Billion in Ethereum
Large holders purchased 323,523 ETH worth about $1.12 billion during the recent Ethereum price dip. This buying wave took place over two days, reinforcing long-term interest.
According to Lookonchain, whale wallets viewed the pullback as a buying opportunity within key technical zones. Their renewed activity highlights growing conviction in Ethereum’s future recovery.
The Ethereum price traded around $3,309 after slipping below the $3,359 support. Despite current pressure, accumulation at lower levels reflects strong market confidence.
Ethereum Price Correction Signals Setup for Rally
CrediBull Crypto stated that the Ethereum price correction is part of a mid-cycle reset before a stronger wave three advance. The analyst identified the present move as subwave two, forming a base for the next upward trend.
We didn't get the move to our highs on $ETH, which is unfortunate because that would have made a great short opp under the right conditions.
That being said, us breaking down first is "good" in that it implies the next time we go for the highs it will probably be on the way to… https://t.co/rESuUXRxJ5 pic.twitter.com/L5Bg7pv0EP
— CrediBULL Crypto (@CredibleCrypto) November 4, 2025
He said, “Revisiting the $2,800 level may create the best accumulation zone since $1,500.” This level could attract more long-term investors seeking value entries.
The analysis emphasized that such pullbacks often precede major rallies, consistent with previous bullish phases. Therefore, the current market phase may prepare Ethereum for an extended rise.
Institutional investors also expanded their Ethereum exposure during the recent correction. Coin Bureau reported that BitMine Immersion increased holdings by $300 million, lifting its total to $13.7 billion.
SharpLink purchased an extra $78.3 million worth of ETH from FalconX, aligning with broader institutional interest. These actions reinforce expectations that major investors continue to buy into weakness.
Such accumulation supports the idea that the Ethereum price correction could trigger the next upward phase. It also reflects institutional belief in Ethereum’s long-term utility and network strength.
Technical Indicators Signal a Maturing Correction
The Ethereum price chart shows a descending structure, suggesting sellers still control short-term movements. However, the correction pattern is beginning to stabilize around the $2,800 demand area.
The DMI indicator shows bearish strength slowing, hinting at an upcoming reversal. A rebound from this zone could drive the Ethereum price above $3,906 and beyond.
If the recovery sustains, resistance levels at $4,290 and $4,959 may come into play. This move would confirm analysts’ view of a developing impulsive wave.
Despite current volatility, the Ethereum price trend maintains a long-term bullish structure. Accumulation from whales and institutions continues to support market resilience.
On-chain data indicates growing confidence as major holders increase exposure. Therefore, traders now watch the $2,800 zone as the key launch point for a possible recovery.
As of publication, the Ethereum price remains steady near $3,309 while accumulation intensifies around critical support levels.
