Ether remains above key support following the entry of sharp money, indicating growing confidence beneath the surface. With bullish signals and steady inflows leveling out, the market is now watching to see if this stability can trigger a significant move higher.
ETH drops below $3,200 before decisive move
AltCoin Vietnam, in a recent release posthighlighted that ETH’s position on its chart is at an extremely tense moment, which signals that the asset is preparing for a significant directional move. This immediate pressure is fueled by a significant bullish divergence that has just appeared on the chart, marking the first signal materialization in over a month.
The analyst reinforced the expectation of high volatility by referring to historical data. Their research shows a consistent history of price volatility of 9-16% whenever ETH drops below the $3,200 level. With the price currently hovering around the $3,100 level, this historical context is a clear signal that a spike in volatility may be imminent.
Recent action by market players provides overwhelming support for the bullish thesis. AltCoin Việt Nam reported that a single very gigantic whale has just opened a leveraged long position totaling $392 million (equivalent to 120,094 ETH). This colossal upside bet shows powerful, high confidence among institutional players.
Moreover, the institutional framework continues to ensure reliable underlying demand. The Ethereum ETF Spot Market continues to actively attract significant capital inflows, totaling over $250 million this week. BitMine Technologies also purchased an additional 33,504 ETH (worth $112 million) today, highlighting continued institutional accumulation.
Given the convergence of technical divergences, the context of historical volatility, and massive whaling and institutional buying, the market is facing a critical moment. AltCoin Việt Nam posed one final question: Can ETH break out strongly and immediately confirm the uptrend, or will it need to retest lower support levels before starting its expected explosive rally?
Buyers step in as Ethereum defends key support
According to to crypto analyst The Boss, ETH showed a very encouraging response from a key technical area. Ethereum responded positively with a support zone at $3,091 and is currently holding well above that level, which is a powerful signal that near-term buying pressure remains resilient and dynamic in the market.
As long as the price remains above the green line, the analyst confirms that growth remains the main objective, confirming the potential for a move towards the resistance zone marked by the blue line. The chief emphasized the importance of these structural defensive moves, stating that such powerful reactions from established support levels are significant signals confirming the validity of the current structure and providing a clear direction of the prevailing trend.
