Ethereum Whales Weigh in on $2,800 Resistance

Ethereum's price has repeatedly hit the $2,800 resistance zone, but on-chain signals suggest that whales may be positioning for a breakout rather than selling.

The number of large ETH transactions has surged as Ethereum approached the $2,800 region, indicating that holders are moving their coins. Meanwhile, older coins have started to move again, and exchange-held supply continues to trend lower.

Recent wallet activity suggests active accumulation: an ICO-era wallet bought 8,492.8 ETH for roughly $23.7 million at around $2,794, while another whale accumulated 1,486 ETH for about $4 million near $2,710.