Ethereum Near Breakout as Whales Accumulate

ETHUSD’s price is testing key resistance levels after a steady week of accumulation. On the daily chart, ETHUSD remains capped by Fibonacci barriers at $3,986 (0.382) and $4,281 (0.618) — both of which rejected earlier rally attempts. A daily close above $4,281 could confirm a reversal toward $4,491–$4,954, while losing $3,804 risks a drop to $3,509.

The RSI continues to show a bullish divergence, as the indicator made higher lows while price formed lower lows between September 25 and October 22, hinting at fading bearish momentum.

On-chain metrics back the setup: whales added 150,000 ETH ($588 million) in 24 hours, and spent coin movement dropped 88%, showing rising holder conviction. Together, these signals strengthen Ethereum’s rebound case — but confirmation still depends on a clean breakout above $4,281.