Ethereum Whales Add 1.8M ETH as Price Eyes $4,800 Breakout

Key Insights:

• Ethereum whales bought 1.80 million ETH tokens.
• Ethereum (ETH) is on the verge of rising 20% and may hit the $4,800 mark.
• Historical data still raises concerns about a potential price crash from this level.

Ethereum whales have shown a strong interest and confidence this month, resulting in ETH hitting the most-awaited $4,000 mark. Recently, a prominent crypto expert shared a post on X (Formerly Twitter) that crypto whales have purchased more than 1.80 million ETH tokens in the past month.

Ethereum Price and Its Rising Trading Volume

This notable acquisition by the investors, long-term holders, and whales has helped the asset to soar over 51% rising from $2,620 to the current level. As of today, on August 8, 2025, with a 3.75% price uptick in the past 24 hours, Ethereum has reached $3,960 level.

Meanwhile, traders and investors’ participation during the same period has skyrocketed, resulting in a 35% surge in the trading volume recorded.

Bulls and Bears Tug Of War

However, this notable surge in the past 24 hours appears to be a nightmare for the short seller. The on-chain analytics tool Coinglass reveals that traders have liquidated over $92.66 million worth of short liquidation during the same period.

In the past four hours, $30.40 million worth of short liquidation has been recorded.

At present, a strong fight between bulls and bears has been recorded. Data reveals that the major liquidation levels are $3,856 on the lower side and $4,040 on the upper side.

At these levels, traders have built $1.53 billion and $690 million worth of long and short positions. This indirectly hints that bulls dominate the asset and could liquidate short positions if buying pressure appears.

Not just liquidation, but massive profit-taking was also recorded during the same period. Coinglass’s Spot Inflow/Outflow metric reveals that exchanges over the past 24 hours have witnessed an inflow of $211 million worth of ETH. This inflow amid this massive price surge is seen as a profit booking.

When combining these metrics together, this is the potential reason behind ETH failing to sustain $4,000 psychological level.

Ethereum (ETH) Price Action and Technical Analysis

According to expert technical analysis, Ethereum appears bullish as it has finally broken its $3,900 hurdle and is now struggling to break out of the $4,000 mark. This level has always acted as an area of selling pressure.

Since January 2024, the Ethereum price has reached this level three times and each time witnessed a sharpe sell-off and massive dip.

The first time, the ETH price dipped 30%, the second time it dropped 45% and the third time it falls more than 65%. Based on the historical level, this level still raises concerns about a potential dip.

Given the current market sentiment and whales’ rising interest in the token, ETH could successfully break out of this key hurdle if the ongoing momentum continues.

If this happens, the ETH price could soar by 20% and may reach the $4,860 level and even more if the momentum continues.

On a weekly and daily basis, the technical indicator Supertrend has turned green and is trading below the asset price. This suggests that the asset is in an uptrend, with strong buying pressure, and bulls dominate the asset.

Whereas, the Relative Strength Index (RSI) on both daily and weekly time frames stands below the overbought territory, which suggests that the asset still has enough room to continue its upside momentum.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.