A major Ethereum investor has drawn market attention by acquiring an additional 10,380 ETH, valued at approximately $19.91 million, despite holding considerable unrealized losses. The wallet,
A major Ethereum investor has drawn market attention by acquiring an additional 10,380 ETH, valued at approximately $19.91 million, despite holding considerable unrealized losses. The wallet, identified as 0x4cee, now holds a total of 25,498 ETH, placing its average entry at $2,382 per ETH. This accumulation took place as Ethereum’s price faced continued selling pressure near the $1,950 mark.
On-chain analytics platform Lookonchain reported that address 0x4cee executed the latest purchase following a previous trading period in which the whale generated $3.66 million in profits by buying and selling 10,500 ETH. Despite that profitable episode, the recent accumulation has pushed paper losses on the current holdings to an estimated $11.3 million.
The wallet’s decision to add to its Ethereum position during a downturn suggests a high-conviction approach or long-term optimism for ETH’s future. However, specific motives behind such large-scale buying remain unclear, and analysts caution that one whale’s activity may not reflect a broader shift in market dynamics.
Lookonchain calculated the average entry price for the accumulated ETH at roughly $2,382. With spot prices trending below this level, many large holders, including 0x4cee, are experiencing mounting pressure.
Large transactions by whale addresses can influence overall sentiment, especially if they occur during significant market corrections. Nevertheless, analysts emphasize the need for further data to assess whether this incident reflects growing institutional or retail accumulation.
This period of heightened activity offers an opportunity for investors to track real-time whale movements and rapid shifts in market structure. CryptoAppsy enables users to set custom price alerts for specific coins like Ethereum while following whale wallet transactions and price levels in a single dashboard, helping traders respond quickly to similar developments as they unfold.
Lookonchain reported the address added 10,380 ETH recently, bringing its overall stake to 25,498 ETH at an average price of $2,382, but the position now faces $11.3 million in unrealized losses.
The Ethereum market’s technical outlook remains fragile, with the $1,850–$1,950 range emerging as an important demand zone. Traders are closely monitoring whether the price can stabilize at these levels or if further downside will unfold.
Crypto analyst DON has identified this region as a critical support area. DON observed that Ethereum previously bounced from this range in March and August, and now sees the potential for a short-term decline toward $1,952 on the three-day chart. The analyst also noted a descending trendline, which extends from Ethereum’s last major peak and intersects with the $1,550 price level in approximately 290 days.
The technical picture suggests that defending the $1,850–$1,950 support could enable a recovery toward historical range highs and, looking further ahead, open the door to a test of $8,580. However, the scenario depends on sustained buying interest at these levels. A close below $1,550 on the three-day chart, according to DON, would invalidate the current bullish thesis.
If buyers maintain the $1,850–$1,950 demand zone, DON projects a possible recovery toward range highs, with long-term technical targets as high as $8,580, but warns a breakdown could delay such moves.
With the ETH market balanced at a precarious technical level, traders are watching closely to see whether large holders such as address 0x4cee continue to accumulate, or whether selling pressures return. Whale buying during corrections often leads to speculation about market bottoms and potential rebounds, but broader confirmation requires further data and consistent inflows from additional large holders.
Ethereum’s next major price movement may depend largely on the market’s response to ongoing activity around the critical demand zone. The strength and timing of buyer interest at $1,850–$1,950 will likely determine the near-term direction for ETH.
The post Ethereum whale adds 10,380 ETH as unrealized losses reach $11.3 million appeared first on COINTURK NEWS.
