Can Ethereum beat $3,800 next when whales and institutions are loaded?

Ethereum went above $3,700 on August 5th, exceeding $3,700 as the accumulation of whales and institutions intensified. Will I recover more than $3,800 by the end of the weekend?

According to data from Crypto.News Ethereum (ETH) , the leading market capitalization Altcoin rose 5.7% to $3,730 on Tuesday, August 5th, returning to $3,650 at press. That price is currently over 148% year-on-year.

The recent surge came weeks after Ethereum tried to surpass the $4,000 mark in late July, but was rejected at nearly $3,900 due to macro headwinds that plunged into the institutional risk appetite and the marked decline in total value locked across its ecosystem.

ETH updates whale accumulation and institutional influx

This week’s Ethereum rebound appears to be closely linked to new accumulations by whales and large groups. Data from Santiment shows that the number of wallets above 10,000 ETH has grown significantly over the past few days, indicating that large holders are positioned for potential benefits.

Source: Santiment

Meanwhile, on August 4th, the two newly created addresses acquired around 40,000 ETH, worth around $442 million, according to LookonChain data. The buying trend was strengthened on August 5th, when three additional wallets accumulated an additional 63,837 ETH for about $236 million.

In total, Lookonchain reports that 14 fresh whale wallets collectively accumulate over 856,000 ETH.

The scale of this accumulation, especially from new wallets, is often increasingly convictions from the wealthy or institutional actors. These buyers are usually responsible for long-term positions and accumulate before the expected price rise. Their activities are also closely monitored by retailers who often interpret such movements as bullish signals.

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In addition to purchasing whales, institutional interest in Ethereum is also gaining momentum. There was a noticeable increase in the Ministry of Finance and structured products, centered around ETH.

One of the most notable developments is the growth of the Strategic Ethereum Reserve (SER), which tracks institutional Ethereum holdings across key funds, the Treasury and asset managers.

Just six weeks ago, the managed SER total assets were less than $3 billion. That figure is currently surged above $10.8 billion, with the reserve controlling 2.45% of total ETH supply from just 1% in June.

In contributing to this surge, Sharplink, a NASDAQ-listed gaming company and one of the top holders in SER, added an ETH of about $66.663 million in the spare on August 4th.

What’s next for ETH?

Despite a significant whale accumulation and renewed institutional purchases, Ethereum still lacks the momentum needed to decisively break the $3,800-3,900 resistance zone.

Fresh Capital has re-entered the market through new whale wallets and Treasury allocations, but these influxes have not yet led to a widespread change in market sentiment.

Last week, Ethereum-centric ETFs saw a total of $129 million spills. This indicates that mainstream investors are still hesitant, and macroeconomic uncertainty continues to weigh risky assets, ranging from risky trade war risk to concerns about the US labor market.

Without a clear narrative or short-term catalyst, the current gatherings remain vulnerable to reversal.

Coinglass data suggests that Ethereum is traded volatilely in dense clusters with long liquidation levels ranging from $3,620 to $3,660. This zone is illuminated with high intensity bands on a 24-hour heat map, representing a multi-concentration, long position of multi-concentration, which could be expelled if the ETH glides further.

ETH Clearing Map: Source: Coinglass

This setup introduces short-term negative side risks. If Ethereum cannot hold more than $3,650, the transition from $3,620 to a pocket of $3,660 could trigger a cascade liquidation.

Such a scenario is likely to increase sales pressure, pushing up a secondary liquidity pool of nearly $3,580 or ETH of nearly $3,540. These levels act as flowable magnets. This means that prices may be drawn towards them to “harvest” the open position before rebounding.

Conversely, if the Bulls defend their current support zone and cause short-term rebounds, Ethereum could target short-settled clusters near $3,730-$3,780.

However, some market watchers are hoping for $4,000 to recover Ethereum, supported by bullish technology.

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