"500 Million Capital Influx to Bottom ETH" On-Chain Signals and In-Depth Analysis of the 2980 Key Level

Ethereum prices today remain around $2,640, with a 24-hour decline of 3.93%, but an intriguing on-chain signal has emerged. Large holder address “Bitmine” has recently increased its holdings significantly, revealing a long-term strategic layout in the market, while the key technical resistance at 2980 will be a decisive factor in determining the next market direction.

On-Chain Data Reveals: The Battle of Large-Scale Capital Increases

Monitoring shows that the whale address Bitmine has been continuously increasing its holdings recently, adding 171,000 ETH in staking, bringing the total staked amount to 1.94 million ETH. This is not just a simple buy-in but a declaration of a long-term, real-money, silver-standard commitment and locking.

In the crypto market, large holders’ positions often represent their medium- to long-term trend predictions. When whales keep accumulating at current levels, it indicates they see value in ETH’s valuation for medium- and long-term strategic deployment. The entry of such large capital supports the market’s underlying liquidity and investor confidence. From a capital scale of hundreds of millions, such accumulation behavior can influence short-term market trends and confirms institutional optimism about ETH’s medium-term prospects.

Technical Dilemma: Risks Around the 2980 Resistance Level

From the 4-hour chart, ETH is currently below the critical resistance at 2980. Whether this level is broken or not will directly determine the scope of the subsequent rebound.

Bullish Scenario: If the 4-hour candle closes strongly and stabilizes above 2980 tonight, the rebound can truly open an upward channel. The subsequent targets will be in the 3,030-3,070 range, with a further possibility of testing the 3,100 high-resistance zone. The MACD lines have already begun to turn upward below the zero line, indicating that downward momentum is waning and rebound strength is gradually building.

Downside Risks: If the price cannot break through 2980 consistently, caution is needed for a “pin” backtest scenario. The first support zone is around 2,905-2,886. If this area cannot hold effectively, the decline could deepen, with the next key support near 2,780.

Investor Operation Framework: Strategies for Different Positions

In facing the current market pattern, investors should develop strategies based on their holdings, focusing on risk control and patience for confirmation signals.

If currently out of position: Do not rush to chase highs. Focus on the performance around the 2,905-2,886 support zone. Once stabilized, consider phased entries but set strict stop-losses below 2,850. This approach avoids blind entries at uncertain levels and keeps risk manageable.

If holding positions: Before a confirmed breakthrough of 2,980, consider reducing some holdings to protect gains. After the price breaks and stabilizes above 2,980, gradually add back positions, targeting the 3,030-3,070 zone. This step-by-step approach can effectively reduce retracement risks.

Risk Warning: If the price falls below 2,886, do not rush to buy the dip. Wait patiently for more solid technical signals around 2,780 before considering entering. In crypto markets, calmness often yields more stable returns than impulsiveness.

Market Outlook Under 5 Billion Capital Influx

Combining the on-chain large holder’s persistent accumulation and the technical signs of waning downward momentum, ETH’s medium-term upward trend still exists. However, short-term movements require patience as the market finds its direction.

Tonight’s key focus is whether ETH can effectively break through 2,980. This level will directly determine the strength and sustainability of the subsequent rebound. The resonance between technical indicators and on-chain data provides investors with a clear operational framework—upward trend but avoid chasing highs, wait for key level confirmation.

Markets are always full of opportunities, but opportunities favor those who remain calm and rational. When institutional capital of hundreds of millions begins to deploy and technical indicators turn positive, investors need to identify the right entry points, set reasonable risk boundaries, and proceed steadily. This is the survival strategy in a complex market.