- The price of Ethereum was above the level of $2,150.
- Bulls show resilience as whale recovers $111 million worth of ETH.
- Another move above $2,000 could push prices towards the $2,500 resistance.
The mysterious Ethereum whale resurfaced after seven months of slumber, and just sent $111 million to USDT to get ETH.
The bullish move came as the price of ETH rose above $2,170 amid a major decline in cryptocurrencies earlier on Thursday.
When Bitcoin repeated the support of $70,000, Ethereum dropped to the important level of $2,150, the daily volume increased by 39% more than $27 billion.
Ethereum whale spends $111 million to recover ETH
According to Lookonchain, the whale that broke out of Ethereum seven months ago when prices jumped to $4,000 has returned.
Strange has spent 111.62 million USDT to buy 50,706 ETH, making this new purchase at an average price of $2,201 per token.
On-chain data shows that this purchase mirrors the sale exactly one year ago, when the same address unloaded 28,683 ETH at $3,892 each.
That sale fetched $111.62 million, and the re-collection of the same price reflects the old “buy-low, sell-high” move.
The amazing whale came back after 7 months of inactivity and became 111.62M $USDT repurchase 50,706 $ETH for an average price of $2,201.
A year ago, this fish sold 28,683 $ETH at an average price of $3,892 for 111.62M $USDT.
What a great buy-low-sell-high move!… pic.twitter.com/3F56jkgr2y
– Lookonchain (@lookonchain) March 19, 2026
Waking up after seven months also shows that the whale is in the middle of a refund, and the sensitivity of the glasses is bought by organizations such as Bitmine.
The investment company, led by Tom Lee of Fundstrat, recently bought 60,999 ETH worth more than $140.3 million and currently has 4,595,562 ETH worth more than $10.5 billion.
ETH’s return above $2,000 coincided with the Ethereum Foundation depositing $7.88 million of altcoins in Steakhouse, a DeFi asset manager with more than a billion dollars in AUM.
EF currently has over $400 million worth of ETH.
Can ETH gain more than $2,150?
The price of Ethereum rose to $2,386 on Monday, a price that pushed Bitcoin to $76,000.
However, the current price is hovering around $2,170, testing support between Bitcoin’s new iteration of support around $70,000.
As we have seen, high-end currencies are retreating as economies struggle with the global financial crisis. Rising prices and the escalating Middle East crisis appear to be short-term headwinds.
Meanwhile, the technical chart shows ETH hovering near the key area on the daily chart.
The $2,100 mark currently serves as a support level and is in line with the rising trend.
Prices are also tracking the 50-day moving average, which serves as resistance near $2,215. These are the obstacles that the cows have to overcome in order to progress.
If the support is strong above the level mentioned above, the next target it remains $2,400-$2,500. On the daily chart, the 100 EMA sits at $2,500.
A breakdown of current levels could allow the bears to target $2,000 or lower. A round of lows near $1,800 provides a critical zone.
