A $63M Ethereum Purchase Puts Whale Accumulation in Focus

For the ETH price prediction, U.Today reported that an unidentified whale purchased 27,553 ETH for $62.97 million at an average price of $2,286. The same account noted that a second buyer spent $37.96 million on 16,658 ETH.

CoinGecko listed Ethereum at $2,289.50, marking a 24-hour gain of 0.95%. These acquisitions garnered attention following a difficult October for ETH, though the primary question remains whether this reported accumulation can assist ETH in breaking through nearby resistance levels.

What Happened With the ETH Whale Purchases?

The Reported $63 Million Accumulation

U.Today valued the 27,553 ETH acquisition at $62.97 million, accumulated across five hours at an average price of $2,286. The outlet also detailed another buy of 16,658 ETH totaling $37.96 million, acquired at an average price of $2,279 over two hours, noting that purchasing activity persisted subsequently.

These transactions surfaced during a period of heightened volatility as ETH attempted to stabilize following a severe correction. The scale and velocity of the reported buys were notable: one concluded over five hours and the other over two. U.Today suggested this activity might point to institutional trading rather than standard retail purchases, while observing that large-scale transactions often precede potential recoveries. This interpretation, however, does not confirm the buyers’ identities or motives.

One Large Purchase, Differently Described

CryptoPotato linked the 27,553 ETH total to the same trader behind the 16,658 ETH purchase, rather than characterizing it as a separate buyer. Consequently, these two sums should not automatically be combined as distinct, independently verified whale actions.

Transaction records identified the trader through wallet address 0x9EcA. The account initially deployed nearly $38 million to acquire 16,658 ETH, and was later reported to have accumulated a total of 27,553 ETH for nearly $63 million. This timeline introduces an important overlap, meaning the larger figure likely encompasses the earlier buy rather than representing an additional 27,553 ETH on top of it. Available descriptions lack the transaction-level detail necessary to resolve this discrepancy definitively.

While both outlets characterize these trades as large-scale accumulation, they represent outlet-attributed transactions rather than an exhaustive count of all ETH purchased by whales across the broader market.

ETH Price and Key Levels After October’s Decline

ETH Price and Market Context

CoinGecko data from November 2 placed ETH at $2,289.50, supported by a market capitalization of roughly $279.7 billion and a 24-hour trading volume near $9.8 billion. While the daily increase was 0.95%, ETH suffered a monthly loss exceeding 16% in October, which CryptoPotato labeled its second-worst October on record.

This price snapshot positioned ETH just beneath the $2,300 threshold after starting October with strong momentum before reversing into a steep monthly decline. Although the modest 24-hour uptick on November 2 signaled temporary stabilization, it neither erased October’s losses nor confirmed the onset of a broader recovery. Comparing this one-day shift to the broader monthly drop explains why traders continue to prioritize immediate technical levels over the whale reports.

Support and Resistance to Watch

In its November 2 chart assessment, U.Today identified support at $2,200–$2,250 and resistance in the $2,350–$2,450 range. A sustained rebound above $2,350 could bring $2,450 into focus, whereas a breakdown below the support zone would undermine that bullish setup.

The same technical breakdown put ETH at $2,288, down from October highs near $2,800. It also highlighted that ETH remained below a longer-term moving average near $2,320 while confronting overhead resistance between $2,350 and $2,450. The relative strength index hovered near the lower boundary of its neutral band, a condition interpreted as a softening of selling pressure rather than an outright reversal signal.

This dynamic creates a narrow near-term test. The support area lies directly beneath the current price, while the moving average and resistance band sit above it. Reclaiming $2,320 would clear an initial hurdle, though the chart commentary still designates $2,350 as the more critical threshold for improving the short-term outlook. A fleeting breakthrough past resistance carries less weight than a sustained recovery, especially following the recent downturn.

Why Whale Buying Has Not Settled the ETH Outlook

Reasons a Recovery Could Gain Traction

These acquisitions materialized in the wake of a sharp correction, and their reported magnitude could draw interest from other market participants. CryptoPotato pointed to an open ETH long-position count surpassing 380,000, which Mookie noted is four times higher than August levels. This comparison offers a secondary bullish signal, though it reflects positioning data rather than proof that spot buyers will follow suit.

The same report recalled that the August comparison window featured a rally from roughly $1,800 to over $2,500. While historical precedent may encourage traders anticipating a repeat performance, it does not guarantee that current market positioning will yield identical price action. Long positions demonstrate exposure to anticipated upward movement and can amplify buying pressure, but they also expose traders to severe risk if the market reverses.

CryptoPotato argued that substantial accumulation could drain available ETH from the open market and inspire smaller traders to follow suit. However, this bullish thesis relies on sustained demand—something the reported purchases alone cannot guarantee—and positioning metrics remain distinct from confirmed spot market demand.

October’s Selling Pressures Remain Relevant

CryptoPotato attributed October’s downward slide to wider market weakness, outflows from spot ETH ETFs, the reported $6.3 billion Binance hack, and token sales originating from wallets connected to the Ethereum Foundation. Specifically, the publication detailed foundation-linked sales of 2,785 ETH valued at roughly $6.42 million, 1,500 ETH worth approximately $3.46 million, and 7,594 ETH valued at roughly $17.8 million.

These reported liquidations originated from distinct sources across varying timelines. One foundation-associated wallet unloaded 2,785 ETH near the close of October; an independent investor liquidated 1,500 ETH following nine years of dormancy; and another foundation-linked participant later disposed of 7,594 ETH after a year of inactivity. Such sales form part of the prevailing backdrop rather than serving as proof that every major holder is trimming their exposure.

Analyst Ali Martinez interpreted ongoing whale distributions as a bearish indicator, cautioning that ETH could drift toward $2,000. This downside risk contrasts with recent accumulation reports: while buying activity can bolster sentiment, it must contend with persisting sell pressure and the market’s capacity to break resistance.

Although the $6.3 billion Binance hack introduced investor anxiety, the buying reports indicate certain participants viewed the correction as a chance to expand their exposure. Neither development dictates the market’s ultimate direction. The true test lies in whether buying momentum endures past headline-grabbing transactions and whether subsequent price action validates those levels at resistance.

ETH Price Prediction for November 2026

Bullish Scenario: Reclaim $2,350

The near-term bullish case relies on buyers successfully defending the $2,200–$2,250 support floor and driving ETH back above $2,350. Should that momentum hold, the resistance zone near $2,450 emerges as the next target highlighted in technical charts. While reported whale purchases and high long positioning bolster the recovery narrative, neither provides a guaranteed price target.

Pseudonymous trader Ted observed that ETH successfully reclaimed the $2,250 support zone and proposed that a breakout above $2,400 could trigger a broader rally. This outlook is more optimistic than the chart’s conservative assessment of resistance at $2,350–$2,450, yet it still depends heavily on follow-through. If ETH maintains its footing above support and establishes itself past resistance, the recovery thesis gains technical validity, whereas a swift rejection would leave the rebound unconfirmed.

Alternative long-range projections cited in the coverage set much loftier goals. Ted suggested a “monster pump” would initiate once ETH cleared $4,000, establishing a cycle target of $13,000–$15,000. Similarly, CRYPTO XLARGE pointed to $4,000 as the decisive breakout level required to unlock significant upside toward the same $13k–$15k objective. These figures represent analyst forecasts rather than projections derived from the November 2 technical setup, which first targets resistance at $2,350–$2,450.

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Bearish Scenario: Support Gives Way

Should ETH fail to preserve the $2,200–$2,250 support zone, the technical landscape would quickly degrade. The $2,000 level represents a downside scenario flagged by Martinez rather than a guaranteed outcome. Nonetheless, October’s pullback and lingering selling pressures provide ample reason to view rapid rebounds with caution.

A breach of support would cast doubt on the current stabilization phase. While it would not automatically trigger a slide straight to $2,000, it would invalidate the notion that buyers had successfully built a durable floor following October’s losses. Under such conditions, prior accumulation would reflect isolated buying rather than a return of broad-based market demand.

### What Would Change the Short-Term Read?

The most decisive indicators within the analyzed commentary are whether ETH can defend its support floor and sustain a breakout above $2,350. A push toward $2,450 would reinforce the recovery narrative, whereas another rejection beneath resistance would leave recent whale buying without technical confirmation.

Market participants should also avoid conflating trader positioning with spot market behavior. Although an open long tally exceeding 380,000 ETH points toward bullish sentiment, the source data does not verify that these positions represent net-new spot acquisitions. Persistent demand, resilient support levels, and a confirmed push past resistance offer much stronger evidence of market strength than isolated whale headlines or positioning stats.

ETH Risks: Ticker Confusion and Whale-Trade Claims

A Separate Solana Token Uses the ETH Name

DEX Screener features an independent token named ETH built on Solana, featuring a Raydium trading pair, no official website or social media channels, a quoted price of $2,253.89, a market capitalization of roughly $1.8 billion, and a 24-hour volume of just $1.88. These metrics do not reflect Ethereum’s native asset data. Because names alone fail to connect the Solana token to Ethereum, traders are advised to independently verify assets and networks prior to executing trades.

This particular listing features a single trading pair quoted against USDC, paired with remarkably sparse 24-hour trading activity. A high displayed market cap or liquidity figure does not equate to the market depth, institutional backing, or order flow associated with Ethereum’s native cryptocurrency. Consequently, verifying the smart contract and underlying network serves as a far more reliable identifier than a shared ticker symbol.

Broader ticker searches across decentralized exchanges also surface various Solana-based assets branded as ETH or Ethereum, alongside similarly named tokens on other networks. These listings are entirely distinct from native ETH. Because crypto market feeds frequently display assets sharing familiar nomenclature, cross-referencing the blockchain network and contract address helps prevent traders from mistakenly purchasing unrelated tokens.

Whale Headlines Are Not a Market-Wide Flow Measure

Reported buying volumes remain claims attributed to specific media outlets, and conflicting details exist regarding whether the 27,553 ETH total belongs to the exact same trader behind the 16,658 ETH acquisition. Consequently, these accounts should be interpreted as reports of isolated large transactions rather than proof that all major holders are accumulating or that a wider market rally is underway.

Because holder-distribution data is absent from the provided market information, these transactions cannot be used to estimate how many distinct holders are accumulating or how widely distributed the activity truly is. While the figures highlight large reported trades, they do not establish the trading behavior of the market’s wider population of whale wallets.

Ethereum.org characterizes Ethereum as a platform designed for decentralized applications and infrastructure, supporting use cases such as payments, stablecoins, NFTs, staking, and Layer 2 networks. While this context illustrates Ethereum’s utility, the reported purchases provide no insight into the buyers’ ultimate intentions for the coins.

How to Buy Ethereum’s ETH

Use the Ethereum Asset Listing

CoinGecko identifies exchanges such as Binance, OKX, Gate, and MEXC as platforms offering active ETH markets, while Ethereum.org directs users toward various wallet and acquisition tools. Always verify an exchange’s asset ticker and underlying network before submitting an order, as a matching ticker on an alternate blockchain represents an entirely different asset.

CoinGecko’s exchange directory also catalogs platforms including CoinUp.io, BTCC, Tapbit, Pionex, Biconomy.com, WEEX, KCEX, DigiFinex, LBank, OrangeX, and Toobit. Because platform availability varies by jurisdiction, traders must ensure they are interacting with the genuine Ethereum ETH market rather than relying solely on matching search text.

Keep the Price Thesis Separate From the Purchase Decision

Reported purchases present a single bullish data point, whereas immediate technical support and resistance zones define the active risk parameters. Because source materials do not provide personalized financial advice, any acquisition strategy must account for the possibility that ETH fails to clear resistance or breaks below support.

For similar reasons, high-profile price targets must not be confused with short-term chart levels. Projected forecasts pointing to $13k–$15k are contingent upon ETH first overcoming the $4,000 threshold, whereas immediate technical analysis centers on defending the $2,200–$2,250 support range and pushing through $2,350–$2,450. These targets span different time horizons and carry entirely distinct market conditions.

?FAQ

01How many ETH did the unidentified whale reportedly buy?

Reports cite a total purchase of 27,553 ETH acquired at an average price of $2,286, representing a stated acquisition value of $62.97 million.

02How much did the other reported ETH purchase cost?

A second transaction involved the purchase of 16,658 ETH valued at $37.96 million, executed at an average price of $2,279, with reports indicating buying activity persisted afterwards.

03Can the two reported purchase totals be treated as separate buys?

Not definitively based on available descriptions alone: one publication categorized the larger purchase as an unidentified buyer, while another linked the 27,553 ETH figure to the same trader associated with the 16,658 ETH acquisition. Analysts should avoid combining them as two independent buyers without granular transaction data.

04Which ETH price levels matter most in the short term?

Technical chart analysis designates support at $2,200–$2,250 and overhead resistance at $2,350–$2,450. A sustained break above the lower resistance threshold could improve the immediate technical outlook.

05What contributed to ETH’s October decline?

CryptoPotato cited broader market weakness, outflows from spot ETH ETFs, the reported $6.3 billion Binance hack, and token liquidations executed by wallets tied to the Ethereum Foundation. Overall monthly losses exceeded 16%.

06How can buyers distinguish Ethereum from a token with the same ticker?

Traders should verify the asset’s underlying blockchain network and official exchange listing rather than relying strictly on the ETH ticker label. Market feeds include an unrelated Solana token named ETH that bears no connection to Ethereum’s native asset.

07What was ETH’s listed price on Nov. 2?

CoinGecko recorded ETH at $2,289.50, up 0.95% over a 24-hour window, alongside a market capitalization of roughly $279.7 billion and a 24-hour trading volume of approximately $9.8 billion.

This article is for information only and is not financial advice.