Key Takeaways:
An unidentified whale accumulated 25,425 Ether through three new wallets in two hours, spending 50.04 million DAI at an average price of $1,968.
According to data shared by on-chain tracking platform Lookonchain, the three wallets — addresses starting with 0x06c, 0x365, and 0xee1 — were created within the same two-hour window and are believed to belong to a single entity. The purchases were executed through the decentralized exchange Uniswap and liquidity provider Wintermute, with millions of dollars worth of DAI swapped for ETH in batches.
The coordinated timing and wallet creation pattern suggest institutional or high-net-worth involvement rather than a redistribution of existing holdings. The 50.04 million DAI deployment represents one of the largest single-entity ETH purchases in recent weeks, according to Lookonchain data.
The accumulation comes at a critical technical juncture for Ether. The token is trading near its 100-day exponential moving average, a level between $1,935 and $1,970 that has rejected multiple recovery attempts in recent months. A daily close above that threshold would open a path toward the 200-day EMA near $2,180, while a failure could see ETH retreat toward the 50-day EMA around $1,750.
Ether's relative strength index has climbed into the mid-60s without entering overbought territory, indicating room for further upside before momentum becomes stretched. The improving technical structure — with the 20-day and 50-day EMAs now trending upward after months of decline — mirrors accumulation patterns seen ahead of previous rallies.
Whether buyers can hold above the 100-day EMA will be determined in the coming sessions. A sustained break would strengthen the bullish case and likely attract momentum traders, while a rejection would shift focus back to the $1,750 support zone.
This article is for informational purposes only and does not constitute investment advice.
