Fall to $3,331 With Whales Buying $1.37B During Breakdown

تكنلوجيا اليوم
2025-11-07 05:42:00
According to CoinDesk Research’s technical analysis data model, ether fell 3.3% to $3,331 in the past 24 hours, breaking below the key $3,400 support level despite evidence of aggressive whale accumulation.
The decline wiped out recent gains as sellers overwhelmed buyers at crucial price points. ETH posted a lower-high structure, with rejection near $3,415, followed by a sharp breakdown below $3,400. Volume spiked as bears took control, reinforcing the bearish technical setup.
Yet on-chain data revealed a surprising divergence: large holders accumulated 394,682 ETH—worth approximately $1.37 billion—during the decline. Whale activity occurred between $3,247 and $3,515, suggesting institutional buyers viewed the pullback as a strategic entry point rather than a signal of prolonged weakness.
Intraday trading saw elevated volatility, with ETH registering a $207 swing for a 6% range. Peak sell pressure hit at 15:00 UTC on Nov. 6, when volume surged to 539,742—145% above the 24-hour average. This confirmed that large-scale selling, not retail panic, drove the breakdown.
ETH also struggled to reclaim $3,350 resistance in the final hours of the analysis window. Combined with the lower-high sequence from the $3,920 cycle peak, this left the technical structure damaged, though some analysts pointed to the accumulation trend as a potential signal for a near-term reversal.
On the fundamentals side, daily active addresses remain down 24% from mid-August, though Ethereum throughput recently reached a record 24,192 transactions per second, reflecting resilience in network infrastructure.
Looking ahead, traders are watching whether ETH can hold the $3,247 support zone. A drop toward $3,200 could invite further selling, while a bounce above $3,480 would begin to neutralize the breakdown pattern.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

