Ethereum Reclaims $2,630 as Whale Activity Rises

Rising whale transfers, a shrinking exchange float and heavy staking have reduced available supply causing the price move above $2,630 to remain unvalidated without follow‑through.

Overview

Ethereum climbed above roughly $2,630, marking the highest levels since January as buyers pushed price into the $2,630–$2,650 band.
Traders repeatedly defended a short-term support zone near $2,400–$2,430, which has stayed intact after prior retracements and helped underpin the rebound.
On‑chain trackers reported increased large transfers and a reported whale purchase of about 5,368 ETH near $2,422, while non-empty wallet counts hit a record roughly 207 million.
Available trading supply is shrinking because exchange reserves have fallen and more than 40 million ETH is tied up in staking, a mix that can amplify price moves if selling pressure eases.
Short-term signals remain mixed with recent spot‑ETF outflows, 4‑hour Supertrend resistance near $2,526 and liquidation clusters above $2,630, so a confirmed daily close or a successful retest will determine if the breakout holds.