Ethereum Whale Awakens: $47.85M ETH Movement Sparks Market Interest

A dormant Ethereum whale, inactive for three years, has resurfaced, moving 30,000 ETH (worth ~$47.85M) and selling $29M worth without disrupting market momentum. This address, originally funded during Ethereum’s 2015 genesis, signals renewed activity amid bullish sentiment.

Dormant Ethereum Whale Returns, Sells $29M in ETH Without Impacting Market Momentum

A long-dormant Ethereum Initial Coin Offering participant has resurfaced, moving 30,000 ETH worth approximately $47.85 million after three years of inactivity. The address, originally funded with 76,000 ETH during Ethereum’s 2015 genesis, executed a series of transactions beginning April 17, offloading more than half its holdings.

Despite selling 16,500 ETH since April 17—including $29 million worth in recent days—the market absorbed the sales without disrupting Ethereum’s upward trajectory. ETH climbed to $1,842.49 by May 4, demonstrating robust demand that dwarfed the whale’s distribution.

The event highlights Ethereum’s deepening liquidity as large transactions fail to derail its momentum. Such resilience underscores institutional confidence in the asset, even as early investors take profits after years of dormancy.

Ethereum Price Hovers Above Key Support Amid Bearish Signals

Ethereum’s April performance closed above $1,800 but marked its fourth consecutive monthly decline, reflecting persistent bearish pressure. On-chain data now suggests a precarious position NEAR critical support—breaching this level could trigger a drop toward $1,500.

Analyst Ali Martinez highlights the $1,772 zone as a make-or-break threshold. The altcoin’s failure to capitalize on late-April momentum underscores market hesitancy, with traders awaiting decisive price action for directional confirmation.

Ethereum Holds Firm Above Key Support as Bullish Sentiment Builds

Ethereum maintains its position above the $1,770 support level, a zone backed by over 4.56 million addresses according to IntoTheBlock data. The second-largest cryptocurrency traded at $1,829.19 at press time, showing modest 0.09% gains in the past 24 hours.

Market sentiment indicators flash bullish signals, with crowd sentiment at 0.71 and smart money sentiment at 0.18. This optimism, combined with substantial historical buying interest at current levels, suggests potential for upward movement if market momentum persists.

Network fundamentals strengthen the bullish case, with new wallet growth indicating renewed on-chain activity. However, traders eyeing the $2,030 target must navigate leverage risks and resistance near $1,867 that could trigger volatility during breakout attempts.

Ethereum Price Sees Healthy Pullback — Uptrend Still Safe

Ethereum’s price action shows resilience after a brief correction, holding key support levels despite short-term bearish pressure. The ETH/USD pair dipped below $1,820 following a rally to $1,873, with technical analysis revealing a descending trendline resistance at $1,835 on hourly charts.

Market structure remains bullish as Ethereum maintains its footing above $1,750. A decisive break above $1,840 could signal renewed upward momentum, mirroring Bitcoin’s recent strength. Kraken’s order book data indicates concentrated liquidity near these critical technical levels.