Ethereum is attracting renewed whale interest after a major investor known as 7 Siblings spent approximately $22 million to accumulate 10,792 ETH at an average price of $2,038. The purchase comes after the ETH price swept liquidity around $2,000, according to crypto analyst Niels. Attention is now shifting toward higher liquidity zones, where short positions are concentrated around $2,100, $2,200, and $2,400. Traders are watching whether renewed buying momentum could trigger a short squeeze in the coming weeks.
Table of Contents
7 Siblings Return With a $22M ETH Purchase
According to Lookonchain, the whale known as 7 Siblings has returned to the Ethereum market with another significant purchase. The investor reportedly spent $22 million to acquire 10,792 ETH at an average price of $2,038.
The transaction is notable because 7 Siblings has developed a reputation for accumulating ETH during sharp market corrections. Its latest purchase shows that the investor was willing to increase exposure while Ethereum faced selling pressure.
Source: Lookonchain’s X Post
This activity also reflects the investor’s previous trading approach of buying during market weakness and selling after price recoveries. Such transactions attract attention from traders monitoring large-scale accumulation.
However, the latest purchase does not confirm that Ethereum has reached a market bottom or that another rally is underway.
Also Read: Ethereum Whale Buys $19.7M in ETH as ETH Price Eyes Potential Recovery
Ethereum’s $2,000 Liquidity Sweep Shifts Market Focus
The whale purchase comes after the ETH price swept liquidity around the $2,000 level. According to crypto analyst Niels, the move wiped out almost all late long positions, putting additional pressure on leveraged traders.
These events happen when a price moves through regions where stop-loss orders exist or are leveraged positions. Price movements like these may set off liquidations and lead to short-term volatility in markets.
According to Niels, there are major shorts on side liquidity levels above the current level of the ETH price, including $2,100, $2,200, and $2,400.
It is critical that these levels are taken into consideration because the shorters might be compelled to close their positions in case the ETH price rises. To close short positions, one has to repurchase ETH.
These liquidity zones, though, are not necessarily destinations; they are more like objectives.
ETH Price Faces Resistance as Market Pressure Builds
The market structure of Ethereum still matters in light of the recent dip. The $2,000 region is an essential support area, especially considering the most recent liquidity and whale accumulation.
From a bullish perspective, the first key level to take out is at $2,100. Breaking above this region could increase the chances of a bounce to the $2,200 liquidity area.
Source: Niels’ X Post
At the same time, $2,400 is still a higher possible target in case of improving buying sentiment. But persistent rejection near $2,100 may prevent recovery efforts and preserve the pressure on the market.
Derivatives traders are also following the developments in terms of derivatives trading, especially open interest and liquidations.
Niels Highlights Three Key ETH Liquidity Targets
In his analysis of ETH, crypto analyst Niels says that Ethereum can gravitate towards more liquidity levels once its positions are cleared above $2,000.
Niels states that considerable short-side liquidity is currently positioned at $2,100, $2,200, and $2,400. Ethereum can target these levels in the coming weeks if there is enough momentum in the market.
This perspective offers a possible short-squeeze situation. If Ethereum starts showing recovery, short sellers might get liquidated, hence generating more buying pressures.
However, the above scenario is still a conditional one since poor buying momentum or rejection near $2,100 can limit ETH from reaching the more liquid regions.
What Comes Next for ETH?
For Ethereum, the subsequent action would mostly hinge on whether buyers support $2,000 and build strength above $2,100.
Traders will also be keeping tabs on further moves by 7 Siblings in order to ascertain if the recently made $22 million buy is just one-time buying.
Recovery back towards $2,200 could provide the impetus for movement towards $2,400. On the other hand, breakdown and sustained price action below $2,000 could undermine the bullish view and put more pressure on ETH.
Accumulation by whales in Ethereum represents a significant development; however, continued buying and recovery towards $2,100 will be crucial for a strong recovery.
Also Read: Ethereum Whales Buy 4,312 ETH as ETH Price Outlook Draws Attention
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Usman Zafar is a News Desk writer at Tronweekly with over five years of experience in cryptocurrency and blockchain journalism. He covers Bitcoin, Ethereum, DeFi, crypto laws and regulation, market activity, Layer 2 scaling solutions, and blockchain-based innovations, focusing on fast-moving developments and official industry updates. Usman previously wrote for BTCread and follows strict verification and editing practices to ensure accurate, timely, and responsible crypto news for a global audience.
