Ethereum Price Today: $3,090
- Accumulation addresses bought 3.24 million ETH in November.
- Whales added 480,000 ETH from Sunday to Thursday last week.
- ETH dropped below the $3,100 support and hit the 50-day EMA resistance.
Ethereum (ETH) fell 3% on Friday. It briefly dropped below $3,100 despite strong buying by whales and accumulation wallets.
Strong Buying by Accumulation Addresses and Whales
Ethereum shows heavy accumulation. In November alone, wallets that do not sell—called accumulation addresses—bought 3.24 million ETH. This is the highest monthly inflow in 2025, according to CryptoQuant data.
These accumulation addresses usually belong to new accounts. Their buying trend continued in December, adding over 1.6 million ETH so far.
This buying happened during a big price drop. ETH fell nearly 45% from $4,755 on October 7 to $2,623 on November 21. This shows buyers are taking advantage of lower prices.
CryptoQuant data shows the average cost of accumulation addresses is acting as strong support. ETH bounced at these levels on November 21 and December 1.
Whales holding between 10,000 and 100,000 ETH also bought heavily. They added 1.4 million ETH in November. After some selling last week, they purchased 480,000 ETH between Sunday and Thursday.
Ethereum Price Outlook: Below $3,100 Support
ETH saw $139.2 million in liquidations in the last 24 hours. Long positions made up $113.8 million of that, according to Coinglass.
Ethereum failed to stay above the 50-day Exponential Moving Average (EMA) and broke the $3,100 support level. If the price keeps falling and fails to hold above the upward trendline from December 2 or the $2,850 key level, ETH could drop to around $2,380.
The Relative Strength Index (RSI) and Stochastic Oscillator are trending down. If these indicators fall below neutral levels, selling pressure could increase.
