Ethereum whales, influential entities with large holdings of the cryptocurrency, have recently engaged in a significant buying spree, purchasing around 260,000 ETH (approximately $423 million). This signals positive prospects for Ethereum’s price and suggests support for current price levels. However, caution is advised as a significant portion of investors may face average losses at the current price range. The article highlights the need for Ethereum to recover and reach denser cost basis zones for a robust rebound. At the time of writing, Ethereum is trading at around $1,600. It is important to note that crypto investments are highly risky and unregulated. Expert advice and careful consideration should be sought before investing.

AI Sentiment: Positive