Key Insights:
- Ethereum’s price surged nearly 8 percent in the past 24 hours, sparking major trading activity.
- A retail trader rebought 1,734 ETH for $3.11 Million after selling earlier at a significant loss.
- The trader previously sold 1,805 ETH for $2.82 Million, realizing a 56 percent loss.
Ethereum’s price has surged nearly 8% in the past 24 hours, triggering heightened activity from major players.
One Ethereum holder made headlines for rebuying at a loss after panic-selling earlier. On-chain movements and technical indicators now suggest a possible climb toward $2,000 and beyond.
Retail FOMO Sparks Headlines as Trader Rebuys ETH at a Higher Price
A single Ethereum wallet has demonstrated emotional trading behavior amid recent price swings. The trader spent $6.42 Million in May 2019 to obtain 1,805 ETH when the price reached $3,559 each.
After the market suffered a severe drop in value, the trader maintained their position until a trading loss forced them to sell.
Two weeks ago, the trader disposed of all assets for $2.82 Million, leading to a loss of $3.6 Million, which amounted to 56%.
After the latest market increase, the wallet made a return purchase of 1,734 Ethereum tokens at $1,792 per coin for $3.11 Million.
The trader moved to enter the market at strong prices; however, their purchase price remained above the most recent market bottom point.
High-net-worth investors face similar dangers to price-based trading and fear-based selling, although they frequently demonstrate them.
The amount paid for entry is less than what was paid initially, yet greater than the most recent selling price. This pattern highlights the challenges in timing volatile assets like Ethereum.
Whales Drive Market Momentum Amid Mixed On-Chain Signals
Alongside retail movement, large Ethereum holders executed significant transactions during the price increase.
During a single hour, a wallet pulled $9.8 Million worth of 5,531 ETH from Binance, showing active accumulation during the continuous market price uptick.
The buying operation of whale 0x2088 represented 4.61 million USDC, which acquired 2,568 ETH at an average rate of $1,794 per unit.
The fast-paced chain of transactions took place in 40 minutes, demonstrating increasing faith in the market.
Most significant transactions executed during market price increases may represent buying behavior, but several do not reveal purchasing intent.
This address on Aave borrowed 15,000 ETH worth $24.9 Million for probable selling purposes.
The same entity borrowed money from Aave, transferred 35,754 ETH worth $64.13 Million, and then executed the withdrawal. All sold tokens transferred within three hours averaged out to $1,794 each.
Institutional Funds Return as Technical Breakout Fuels Optimism
Ethereum-based exchange-traded funds saw inflows of $38.8 Million after several days of capital outflows.
The two prominent Ethereum-based exchange-traded funds provided by Fidelity’s FETH and Bitwise’s ETHW received combined capital increases of $38.8 Million during the period.
As demonstrated by capital inflows, new institutional participations in Ether have experienced increased popularity.
According to future data, higher market involvement is reflected in the increasing number of participants.
Open interest surged over 17%, hitting $21.92 Billion within 24 hours. The price movement prediction signals through weighted funding rates turned positive at 0.0069%, which indicates increasing market expectations of price appreciation.
Technical analysis supports this momentum, with Ethereum recently closing above a key long-term trendline.
Analysts say this breakout signals a shift from downward pressure toward potential upward targets. Forecasts now point to $2,300–$2,500 if momentum continues into May.
Market Eyes $2,000 Mark as Resistance Levels Thin Out
According to IntoTheBlock, Ethereum faces minimal sell resistance before reaching the $2,000 level.
Ethereum will continue with robust growth when it surpasses the $1,860 technical threshold. Numerous traders monitor the projected important test of this central level.
Market observers indicate higher price gains are likely because whales support the market while on-chain resistance remains minimal.
One whale, which experienced a $40 Million ETH loss, made another entry with a new investment plan.
A trader obtained 34.75 million USDT as funds from a loan to purchase 19,973 ETH when the price was $1,740.
