Ethereum (ETH) is attracting attention after a major whale purchased another 10,380 ETH worth approximately $19.91 million despite holding substantial unrealized losses. According to Lookonchain, the wallet now holds 25,498 ETH, with an average acquisition price of $2,382. The accumulation comes as the ETH price faces selling pressure near the $1,950 level. Meanwhile, crypto analyst DON has identified a major demand zone that could determine Ethereum’s next significant price movement.
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Ethereum Whale Adds 10,380 ETH Despite Heavy Losses
According to the on-chain analytics platform Lookonchain, whale address 0x4cee recently acquired another 10,380 ETH valued at approximately $19.91 million. The purchase followed an earlier trading period in which the wallet reportedly generated $3.66 million in profits by buying and selling 10,500 ETH.
Source: Lookonchain’s X Post
Following the latest transaction, the whale’s total holdings increased to 25,498 ETH, worth approximately $49.44 million at the reported valuation. However, the position is currently carrying an estimated $11.3 million in unrealized losses.
Lookonchain reported that the wallet’s average acquisition price stands at approximately $2,382 per ETH. Despite the losses, the whale has continued accumulating, although its motivation remains unclear. The transaction highlights activity from a major holder but does not independently confirm broader market demand.
Also Read: Ethereum Whales Buy 4,312 ETH as ETH Price Outlook Draws Attention
Whale Accumulation Draws Market Attention
The latest purchase is attracting attention because it comes during a period of weakness in Ethereum’s market structure.
The wallet’s decision to increase its exposure despite substantial unrealized losses raises questions about its longer-term outlook. It could reflect confidence in Ethereum’s future valuation, although the holder’s actual investment strategy remains unknown.
The difference between the average acquisition price and the reported market valuation also highlights the pressure facing large ETH holders.
Such transactions can influence market sentiment, particularly when large investors continue accumulating during corrections. However, traders will need additional on-chain and exchange data to determine whether broader buying activity is developing.
ETH Price Tests the $1,850–$1,950 Demand Zone
The ETH price’s technical structure remains under pressure as traders monitor the $1,850–$1,950 demand zone.
Crypto analyst DON identified this region as an important support area, noting that it previously held during March and August. The analyst also outlined a potential 5% decline on the three-day timeframe toward approximately $1,952.
The demand zone is therefore a key area to watch for signs of buying pressure. A successful defense could help the ETH price stabilize, while continued selling could weaken its short-term structure.
DON also highlighted a descending trendline originating from Ethereum’s 2025 market peak. According to the analyst, this trendline intersects the $1,550 range floor in approximately 290 days.
DON Sees $8,580 Target if Support Holds
DON has outlined a longer-term bullish scenario despite the possibility of additional short-term weakness.
According to the analyst, holding the $1,850–$1,950 demand zone could support a recovery toward previous range highs, followed by a potential move toward $8,580.
Source: Don’s X Post
However, this projection depends on buyers defending the identified support region. A sustained breakdown would weaken the bullish outlook and delay the anticipated recovery.
The $8,580 target remains a long-term technical projection rather than an immediate price expectation.
What Comes Next for ETH?
Ethereum’s next move will largely depend on how the market responds to the current demand zone. Traders will monitor whether the ETH price can attract sufficient buying pressure to stabilize and recover toward higher range levels.
The whale’s accumulation also remains worth watching, particularly whether address 0x4cee continues increasing its exposure.
On the downside, DON considers a three-day close below $1,550 sufficient to invalidate the broader bullish setup. For now, the $1,850–$1,950 region remains important for Ethereum’s near-term structure, while whale activity provides additional context about large-holder positioning.
Also Read: Ethereum Whale Accumulation Grows as ETH Price Targets $2,400 Breakout
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Mishal Ali is a Policy and Regulations Reporter at Tron Weekly with over four years of experience covering the global crypto and blockchain space. Her reporting focuses on crypto regulations and policy, alongside Bitcoin, Ethereum, altcoins, DeFi, NFTs, Web3, Layer 2 solutions, and AI-driven crypto use cases. She also tracks Ripple-related developments, enforcement actions, licensing updates, and crypto scams and fraud trends, helping readers understand regulatory and compliance risks.
