📉 Ethereum's Recent Drop
Ethereum has dropped over 13% since Monday, hitting $2,380 on Friday, sparking concerns among investors who had hoped for a breakout. This sharp decline has shaken market confidence, but on-chain data from Santiment shows a surge in whale activity, hitting a six-week high just as prices fell.

🐋 Whale Accumulation
The spike in large transactions suggests potential accumulation by whales, a pattern often seen as a bullish signal near key support levels. Historically, whale buying during downturns indicates confidence in a future recovery, as these big players typically target undervalued assets.

🔍 Market Outlook
The next few days are critical for Ethereum. A solid hold above recent lows could signal a rebound, while a failure to maintain support may deepen bearish sentiment. Investors are watching closely for stabilization and whale behavior, which could offer insights into Ethereum’s near-term direction.

📈 Whales Signal Rally?
Despite the recent retrace, sentiment remains bullish. Data from Santiment shows that Ethereum whale activity spiked as the price dropped to $2,380. Such accumulation by large stakeholders often signals renewed confidence in long-term value.

💡 Encouraging Signs
While an immediate rebound isn’t guaranteed, this whale accumulation is a positive signal. Major accumulation typically occurs during periods of price weakness, laying the groundwork for potential upward movement. Analysts suggest institutional investors may be behind this slow accumulation, preparing Ethereum for a stronger move.

⚠️ Key Support Levels
Ethereum's price remains near local lows, trading at $2,466 after pulling back from $2,550. For bulls to regain control, breaking above $2,550 is crucial. A push above this level could target the 200-day EMA at $2,783, reinforcing bullish sentiment.