Whales Scoop 323,523 ETH Amid Price Dip – Is Ethereum Price Correction Setting Up a 10K Wave?

The Ethereum price has come under renewed focus following analysts’ projections of a major rebound toward $10,000. CrediBull Crypto highlighted that the current decline is part of a healthy correction before a stronger third wave rally. Meanwhile, recent on-chain data shows whales have accumulated over $1.12 billion worth of ETH. This move reinforces long-term confidence in the asset. Despite short-term downside pressure, market sentiment remains cautiously optimistic as accumulation intensifies around key demand zones. 

Ethereum Price Action Shows Short-Term Weakness Before Major Upside Setup

CrediBull Crypto’s latest analysis suggests the current Ethereum price correction could be a critical prelude to a major rally that propels the coin toward the $10,000 mark. The analyst explained that Ethereum is now in its subwave 2 phase, a typical mid-cycle retracement that resets market structure before an explosive wave 3 advance. 

Besides, he highlighted that revisiting the $2,800 zone would mark the most strategic accumulation level since $1,500, creating ideal conditions for long-term investors to re-enter. This pattern, he added, mirrors past bullish setups where deep pullbacks preceded historic rallies. 

Therefore, the future Ethereum price projection remains bullish, as the current correction appears to be the final shakeout before Ethereum begins its next impulsive wave toward a five-digit valuation.

Deeper Dive into Analyst Projections and Chart Structure

At the time of press, ETH value sits at $3,309, gradually stabilizing after breaking below the $3,359 support. The chart clearly outlines a descending structure signaling short-term control by sellers, yet it simultaneously hints at a maturing correction phase. 

The DMI indicator highlights that bearish pressure remains elevated, though its intensity is tapering, suggesting a possible reversal near the $2,800 launch zone. This level aligns with a historical demand area where buyers have repeatedly regained dominance, marking a turning point for past rallies. 

If Ethereum successfully rebounds from this launch zone, the ensuing move could propel it beyond $3,906, $4,290 and $4,959, reinforcing expectations of a new impulsive advance. Such a recovery would validate analysts’ belief that the ongoing correction is setting the stage for Ethereum’s projected 10K wave.

Whale Accumulation Reinforces Confidence in Ethereum’s Long-Term Outlook

Whale activity has surged notably over the past week, coinciding with Ethereum’s dip toward key technical supports. Lookonchain reported that whales purchased more than 323,000 ETH—valued at approximately $1.12 billion—over two days, signaling renewed accumulation at perceived bargain levels. This influx demonstrates that large holders view the current price range as an attractive entry before the next impulsive wave predicted by analysts.

Meanwhile, institutional involvement continues to strengthen confidence further. Coin Bureau revealed that Tom Lee’s BitMine Immersion expanded its Ethereum holdings by an additional $300 million, raising its total exposure to $13.7 billion.  

Adding to this narrative, SharpLink accumulation of $78.3 million worth of ETH from FalconX further reinforces that smart money continues to buy the dip. This sizable accumulation, especially amid market corrections, aligns with the broader institutional strategy of capitalizing on discounted valuations ahead of a projected recovery. 

Collectively, these whale and corporate inflows bolster on-chain fundamentals and confirm rising optimism about Ethereum’s long-term trajectory.

Summary 

Ethereum’s short-term correction appears to align with both technical and institutional accumulation signals. Analysts foresee the $2,800 zone as the likely bottom before the next impulsive surge. With whales and firms like BitMine positioning aggressively, the ETH price outlook suggests a robust foundation for a potential rally toward the $10,000 mark. The convergence of chart dynamics and whale behavior strengthens confidence that Ethereum’s next major move could redefine its mid-term trajectory.