New on-chain data reveals that Ethereum (ETH) has bounced multiple times after reaching a key whale cost support zone, triggering strong buying interest.
According to ChainCatcher reports, this level tracks wallets meeting strict criteria — at least one purchase of 100+ ETH, multiple buying transactions, zero selling history, and a current balance above 100 ETH, excluding centralized exchange wallets.
Since November 21, these whale wallets have accumulated over 4.8 million ETH, representing nearly 4% of total circulating supply, with holdings rising from 22.4M ETH to 27.2M ETH.
Analysts suggest that if ETH loses this level, the next realised price support could appear near $2,300, while current buying behaviour reflects investor confidence and optimism toward Ethereum’s future outlook.
