ETH Whales on Rampage: BitMine Snags 138K ETH as $3,000 Holds Firm – Bulls Gear Up for $4,000 Moonshot

ETHUSD has been consolidating in a narrow range between $3241 and $2716 for the past week. It hit a high of $3180 yesterday and is currently trading $3118.20.

With over 3% of all circulating supply, BitMine Immersion grabbed ~138,000 ETH and pushed its treasury to an amazing 3.8–3.9 million ETH, making it clearly the largest single corporate holder. The post-Fusaka upgrade shortcoming and chop were willfully hit by the strong purchasing, demonstrating BitMine treats every decline as a fire sale.

Meanwhile, more whale activity is aggravating the accumulation wave: on-chain trackers show 300–400K ETH vacuumed up in the $2,950–$3,150 zone in recent weeks, whilst mega-wallets have stacked $400–430M in leveraged longs on platforms like Hyperliquid. Analysts believe the path is free for a push past $3,300–$3,450 toward $4,000 if this buying pressure persists as ETH consolidates over the psychological $3,000 level, whales protecting that floor, and ETF inflows rise.

Oscillators and moving averages to forecast the trend of ETHUSD

CMP- $3118.20

EMA (4-hour chart)

55-EMA- $3061.31

200-EMA- $3177.02

365-EMA- $3391. The pair trades above the short and below the long-term moving average.

Major Support - $3000. Any breach below $3000 will drag the pair down to $2900/$2600/$2500/$2300/$2000.

Major Resistance - $3320.  Any break above $3320 confirms minor bullishness, a jump to $3390/$3458/$3565/$3700/$4000.

Indicators (4-hour chart)

CCI(50)- Bullish

ADX-  neutral

 Investment Strategy for ETHUSD

It is good to buy on dips around $2958-60 with a stop loss around $2700 for target profits of $3540/$3600.