Ethereum is one of the worst-hit crypto assets during the ongoing market crash, correcting 23% from its all-time high and 20% from September’s peak.
However, whales aren’t bearish and are aggressively buying the dip. Data from Lookonchain reveals that 15 whale wallets purchased 406,117 ETH, worth ~$1.6 billion, over the past two days.
Smart money investors have good reason to accumulate ETH after the recent drop. Its 4-hour Relative Strength Index (RSI-14) fell to 15 for only the 19th time in its 10-year history, which experts are calling “a rare oversold” signal.
With ETH now at key support levels, a bounce could mean that the bottom is in. Despite advising caution, prominent analysts remain bullish with their Ethereum price predictions.
Whales Are Buying The Dip In Ethereum
On-chain data analysis platforms have flagged aggressive ETH accumulation from whales. 15 wallets have purchased over 400k ETH, worth nearly $1.6 billion, over the past 2 days from a variety of exchanges.
Similarly, Arkham Intelligence reveals that a whale has opened a $100 million long with 10x leverage.
Ethereum treasury firms like BitMine Immersion and Sharplink Gaming continue to accumulate ETH as well, with BitMine adding $500 million worth of ETH to its holdings. BitMine Chairman Tom Lee recently reiterated his $15,000 year-end Ethereum price prediction.
ETH RSI Hits Extremely Oversold Levels
Ethereum’s Relative Strength Index (RSI-14) has reached extremely oversold levels. In the 4-hour timeframe, the RSI dropped to 15, which popular trader Crypto Tony called a rare oversold signal.
Similarly, ETH’s daily RSI fell to 30 on Thursday, which is even lower than in June, when Ethereum was trading at just $2,100.
Ethereum Price Prediction: Is It Time For A Bullish Reversal?
Despite whales buying the dip, it is still wise for interested buyers to exercise caution. For instance, prominent analyst Nebraskangooner is anticipating the ETH price to correct to $3600.
Similarly, Into The Cryptoverse’s Benjamin Cowen predicts that the Ethereum price will retest its 21-week Exponential Moving Average, which currently is also near $3,600. A successful retest will result in a bullish reversal in the fourth quarter rally.
However, a successful breakout above the $4,100 multi-year resistance would invalidate these bearish theses, providing a strong buying signal.
Best Ethereum Beta Coins To Buy
Despite the September crypto crash, most experts remain confident about a strong recovery and an explosive rally in the fourth quarter. Top analysts like BitMine’s Tom Lee remain confident that the ETH price will hit $10,000 this year.
This provides the ideal backdrop to invest in Ethereum beta coins, tokens within the ETH ecosystem that tend to show a strong correlation with its price.
For instance, Pepe remains highly undervalued and will likely see strong growth in Q4. Experts remain confident that the popular meme coin will reach the $20 billion valuation before year-end.
Low-cap Ethereum meme coins remain in high demand. Pepenode, one of the newest entrants, has already raised $1.4 million in its presale thanks to steady whale and retail buying.
Pepenode is quickly separating itself from the meme coin crowd with its innovative mine-to-earn system that allows holders to purchase virtual nodes, build server rooms, and generate rewards without needing GPUs or expensive hardware.
Every upgrade activates a powerful deflationary burn that permanently reduces supply, creating scarcity and boosting long-term potential. Unlike most presales that leave investors waiting, Pepenode delivers immediate off-chain mining rewards, including bonus payouts in popular meme coins like Pepe and Fartcoin.
Investors can also opt for passive income through Pepenode’s staking rewards, which is currently offering a reward rate of over 900% per annum.
With strong early demand and a low market cap, Pepenode is being tipped as one of the most promising Ethereum meme coins of 2025. Many early buyers are viewing it as the next 100x crypto.
Visit Pepenode Presale
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