ETH Rockets Up, But Whale Sharks Bait and Switch! 😂

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Ethereum, that frivolous second cousin to Bitcoin, has bounced back with indecent haste after its lamentable dip to a mere $3,850. The fickle fellow gained over 6% on that fateful day of October 2, perching haughtily at $4,383 at press time. Market oracles inform us that its 24-hour trading volume has swelled by a staggering 45%, now languishing at $52.48 billion. Oh, the volatility! 2.2% in mere hours, market cap dangling at $529.37 B, and volume bubbling at $40.13 B – how utterly bourgeois.

Yet, herein lies the farce: these corpulent whales of the ether are divesting themselves with all the pomp of an aristocratic divorce, just as Ether teeters near a key resistance. Sarcasm aside, they scent profit in the air and sell, sell, sell! 😏

The sage Ali Martinez decrees that $4,505 remains the Rubicon for ETH‘s short-term fortunes. He brandishes a realized price distribution chart from Glassnode, revealing a horde of addresses that flogged ETH at this very level, like debutantes at their first ball.

$4,505 is one of the most important resistance levels to watch for Ethereum $ETH.

– Ali (@ali_charts) October 2, 2025

Ether Encounters Whale Exodus

On-chain intelligences confirm that certain portly cetaceans are shedding exposure like unwanted inheritances ahead of this resistance. Lookonchain chortles that Trend Research whisked 24,051 ETH (£104.3 million, I suppose in their parlance) to Binance late on October 1. How droll!

As the market rebounded, some whales sold $ETH to lock in profits.

Trend Research deposited 24,051 $ETH($104.3M) into #Binance over the past 9 hours.

OTC whale 0xd8d0 sold 20,830 $ETH($98.3M) via Wintermute over the past 10 hours.

Ethereum OG 0x0FeA deposited 4,000…

– Lookonchain (@lookonchain) October 2, 2025

Simultaneously, another blubbery beast unloaded 20,830 ETH (£98.3 million, give or take a joke) through Wintermute. Earlier today, an OG Ethereum whale dispatched 4,000 ETH (£17.3 million) to Kraken, as if attending a country house party. This burgeoning trepidation among the great investors hints at a potential short-term retreat before the ensuing ascent. ETH must vault above $4,500 to affirm bullish valour – or face the guillotine of disappointment. 😂

ETH’s Prognosis, With a Wink and a Nod

Notwithstanding the whale exodus, analysts persist in their insufferably optimistic reveries, dubbing ETH the veritable pearl of cryptocurrencies to hoard at present. Market strategist Cas Abbé observes that the asset has been cultivating a Wyckoff accumulation pattern since late 2024, now in its terminal phase, which purportedly culminates in a parabolic caper.

$ETH Wyckoff accumulation is now entering its final phase.

This is the phase where a parabolic run happens.

It won’t start immediately but will happen within 3-4 weeks.

IMO, ETH will make a strong support around $4K level and then pull a 80%-100% rally in 6-8 weeks.

– Cas Abbé (@cas_abbe) October 1, 2025

Abbé prognosticates a robust foundation around $4,000 this month, antes of a 80-100% rally in November. Should this whimsical uprising occur, ETH might soar beyond $8,000, as prophesied by assorted crystal-gazers for this quarter. Notably, it presently trades 11% beneath its all-time pinnacle of $4,953, attained in August – such is the whimsy of fate!

On the daily chart, the price rebounds from the lower Bollinger Band and presses against the mid-band (20-day SMA) near $4,380. A closure above the upper band at $4,770 might herald bullish effervescence anew.

ETH price chart with RSI and Bollinger Bands | Source: TradingView

The RSI exhibits neutral impetus, clawing back from oversold abysses. In an idealized bullish tableau, breaching $4,505 could propel ETH to $4,800 and perhaps $5,000, all while we scoff from the sidelines. Oh, the irony! 💸

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2025-10-02 14:08