Whales Buy Over $3B Worth of ETH, Analyst Forecasts Cardano Uptrend Above $0.50 

Market Intelligence platform, Santiment, reveals that whales have bought over 934,240 ETH, which is worth approximately $3 billion, in the past three weeks. The latest update comes as the Ethereum price climbs above $3,300. 

Meanwhile, as the crypto community awaits the Fed’s FOMC update, a top analyst forecasts that Cardano could soar past $0.50 soon. According to him, the ADA coin has broken out of an inverse head-and-shoulders pattern.

Whales Accumulate $3B ETH As Price Breaks Key Resistance Level

The crypto market is currently showing positive movement after a recent correction swept across the market. A recent report from Santiment shows that whales holding between 100 and 100,000 ETH have accumulated over 934,240 ETH. 

On the other hand, sharks (those holding 0 to 0.1 ETH have dumped 1,040 ETH in the past week. This accumulation pattern indicates a large vote of confidence from whale investors.

Meanwhile, the Ethereum price has soared to set a new weekly high. The altcoin soared past the resistance around $3,200-$3,300 and is now up 8.6% on the weekly timeframe. 

The gains have also extended to the biweekly chart, where the Ethereum price has increased by 12.9%. CyrilXBT notes that if bulls hold the $3,300 level, the Ethereum price could climb to $3,600-$3,800 before rallying to $4,000. On the flipside, closing the week below $2,800 could trigger a downturn to $2,400-$2,500.

Cardano Breaks Out of Bearish Pattern: Analyst Sets New Targets

In a recent tweet, Master of Crypto told his followers that the Cardano price is ready for the next leg up. According to him, ADA has broken out an Inverse head-and-shoulders pattern. 

He noted that the Cardano price could continue its uptrend as long as it stays above the breakout line. Master of Crypto predicted a target of $0.53-$0.55 if this happens. In the meantime, the Cardano price is up 3.3% on the weekly chart. 

The Cardano coin has been trading at an average of $0.40-$0.47 this period. Santiment data, however, indicates that the Cardano coin is under pressure, as reported by Ali_Charts. There has been an increase in the amount of Cardano in circulation over the last week.

However, the sentiment around ADA is optimistic. The RSI reading of 53 indicates that the buying pressure is increasing and the bulls are taking over. Thus, the ADA price may rise to new heights in the coming days.

In Summary

Positive momentum could push the Cardano price to $0.55. Also, Ethereum might reclaim the $4,000 region. Moreover, the crypto community is expecting the Fed to cut the interest rate by 25bps on Wednesday. If this happens, the crypto market could see an influx of buying interest. Such momentum could spark a rally this December and set the tone for a bullish move in 2026.