Key Highlights
- Ethereum (ETH) value soared by round 5% following aggressive whale accumulation and a rebound in Bitcoin’s value.
- ETH types a double-bottom sample on a 4-hour chart with a transparent upward trajectory.
- BTC and ETH managed to get better after a sell-off on account of hotter-than-expected U.S. inflation information.
On October 16, Ethereum (ETH) value witnessed upward momentum following rising whale accumulation and a rebound in Bitcoin value, serving to the cryptocurrency to soar round 5% on a each day chart.
On the time of penning this, Ether (ETH) is buying and selling at round $2,480 with a spike of 4.6% within the final 24 hours, based on CoinGecko. The each day buying and selling quantity is hovering round $14.48 billion, together with a powerful market capitalization of $301.764 billion.
Whale Accumulates ETH Regardless of Uncertainty in Market
Based on on-chain information, in the previous few days, main whale accumulation occurred throughout a latest pullback in ETH value, with the value buying and selling roughly within the $2,300 to $2,500 vary. Some giant wallets purchased the dip, whereas others rotated from Bitcoin into ETH.
As an illustration, Lookonchain has highlighted one whale, which purchased 6,010 ETH value roughly $14.23 million on October 15 amid the value pullback. This similar pockets has beforehand offered 2,050 ETH for round $4.93 million, locking in about $1.08 million in revenue, then re-entered at decrease ranges.
On October 15, one other whale gathered 3,288 ETH at a mean value of round $2,450 through the dip. It withdrew 1,100 ETH from OKX at about $2,516.77 and added one other 2,188 ETH at roughly $2,416.89.
Whales and establishments offered 1,601.1 BTC, value about $132 million in USDC, during the last 5 days and used the proceeds to purchase 53,095 ETH at a mean value of round $2,497. They offered one other 288.9 BTC for about $23.48 million USDC and acquired 9,820 ETH. This exercise was tracked by Yuqing, also referred to as Yu Jin Monitoring, and confirmed by Lookonchain.
ETH Follows Clear Upward Trajectory
As of now, Ethereum is consolidating within the value vary of $2,460 and $2,480. It’s up roughly 4% to five% during the last 24 hours, recovering from an intraday or latest low close to $2,300. This value is transferring in a transparent short-term upward trajectory after the latest sell-off.
Technical indicators additionally verify the upward momentum in Ethereum’s value. The 14-day RSI at the moment revolves round 65. This implies robust short-term shopping for momentum with out being deeply overbought but.
For transferring averages, the 20-day SMA sits at round $2,590, with the value at the moment beneath it. The 50-day SMA is round $2,550, and the value can also be beneath it. This implies ETH continues to be beneath its short- and medium-term transferring averages. It signifies that the intermediate pattern has not totally turned bullish. Nevertheless, it’s above the rising 200-day SMA, which retains the longer-term construction intact.
Based on the present TradingView value chart, Ethereum is creating a double-bottom sample, which is particularly seen on the 4-hour chart. Two lows shaped close to the $2,400 to $2,4100 zone, with a deeper liquidity sweep towards $2,320 to $2,340. The neckline and resistance sit round $2,578 to $2,590.
A sustained break and shut above this neckline would verify the sample and open upside targets towards $2,700 to $2,760. Till then, the restoration stays a bounce reasonably than a confirmed pattern reversal.
Bitcoin Recovers From Fed Price Ambiguity
On Friday, Bitcoin rebounded on October 16, 2026, recovering round 2% after slipping beneath $81,000 the day prior to this. The drop was triggered by hotter-than-expected U.S. inflation information, which heightened uncertainty over Federal Reserve rate of interest coverage and clearly raised the percentages of a possible fee hike,
BTC was buying and selling round $80,000 earlier than climbing again above $82,000. At current, BTC value revolves round $81,980 with a market capitalization of $1.65 trillion.
