Ethereum whale accumulation strengthened bullish sentiment on December 29, with a major wallet withdrawing 2,218 ETH worth $6.52 million from Kraken. Trading volume surged 130% to $17.16 billion, and technical patterns signal potential upside to $3,360.
Ethereum whale accumulation: Wallet 0xcd9 added $6.52 million ETH, holding $8.07 million total.
Rising volumes reached $17.16 billion, up 130%, amid broader market gains above $3 trillion.
Technical cup-and-handle pattern targets $3,360; ADX at 29.09 confirms trend strength with 2.75% price rise.
Ethereum whale accumulation drives bullish surge on Dec 29: $6.52M ETH withdrawn, volumes up 130%. Analyze charts and data for investment insights. Stay ahead in crypto markets today!
What is driving Ethereum whale accumulation and price recovery?
Ethereum whale accumulation fueled a notable price recovery on December 29, as a whale wallet withdrew 2,218 ETH valued at $6.52 million from the Kraken exchange, according to Onchain Lens. This move, combined with 130% higher trading volumes to $17.16 billion per CoinMarketCap, outperformed Bitcoin, XRP, BNB, and Solana, pushing ETH up 2.75% amid a 2.32% market cap rise above $3 trillion.
What does the Ethereum price technical analysis reveal?
Ethereum’s daily chart displays a cup-and-handle pattern, a bullish continuation signal during recoveries. A close above $3,050 could target $3,360, offering about 10% upside.
Source: TradingView
The Average Directional Index (ADX) registered 29.09, surpassing 25, which confirms sustained trend strength in the rebound. Such metrics underscore improving short-term market structure. Traders now monitor the neckline for sustained momentum. This setup aligns with reduced sell-side pressure from exchange outflows, as the wallet previously received 519 ETH from Wintermute 19 days earlier, now holding 2,738 ETH worth $8.07 million. Overall, these indicators point to robust buyer interest.
Frequently Asked Questions
What recent Ethereum whale accumulation activity occurred in December 2025?
On December 29, wallet 0xcd9 withdrew 2,218 ETH ($6.52 million) from Kraken, adding to prior inflows from Wintermute. This accumulation now totals 2,738 ETH ($8.07 million), signaling reduced selling pressure and heightened investor confidence per Onchain Lens data.
Is Ethereum showing bullish signals in current price action?
Yes, Ethereum displays bullish signals through a cup-and-handle pattern on daily charts, ADX above 25 at 29.09, and 130% volume surge to $17.16 billion. Whale outflows support this, with potential targets at $3,360 if resistance breaks.
Source: CoinGlass
CoinGlass data highlights key levels: $2,915 support with $1.03 billion long liquidation leverage and $3,073 resistance with $380.58 million short leverage. This imbalance favors bulls near current prices, though leverage risks volatility.
Key Takeaways
- Ethereum whale accumulation reduces sell pressure: $6.52 million ETH withdrawal boosts holdings to $8.07 million.
- Technical strength confirmed: Cup-and-handle targets $3,360; ADX at 29.09 signals robust rebound.
- Monitor liquidation levels: Bullish leverage imbalance supports upside but warns of volatility risks.
Conclusion
Ethereum whale accumulation and price recovery converged with technical bullishness and surging volumes on December 29, lifting ETH amid a market cap rebound above $3 trillion. Sustained momentum hinges on key resistance tests, where data from Onchain Lens, CoinMarketCap, and CoinGlass reflects strong positioning. Investors should track these developments for ongoing Ethereum market structure improvements.
Source: https://en.coinotag.com/ethereum-whale-accumulation-bolsters-bullish-setup-and-potential-upside