Whales stepped in while retail hesitated.
Large ETH holders accumulated during the recent dip, and spot Ethereum ETFs flipped back to net inflows — exactly the combo that preceded prior relief rallies. $2,438 is now the level analysts are watching as near-term resistance.
ETF inflows returning alongside whale accumulation narrows the supply available at current prices.
Watch that $2,438 level: a clean break holds more weight than a wick.

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