Ether’s bullish momentum remains strong despite overall crypto market weakness. New whale wallets have accumulated over 540,000 ETH since July 9. Buy orders concentrated between $3,000 to $3,400 pose a risk of a liquidity sweep before a potential rally to new highs. Ether trades above $3,500 support, eyeing $4,000 with a potential inverse head-and-shoulders pattern forming.

Large institutional and whale accumulation of Ether has bolstered its resilience. Strategic accumulation has surged, with holdings nearly doubling among large corporations. Bit Mine, holding 566,776 ETH valued at $2.06 billion, leads as the largest Ether treasury among institutional entities. A short-term concern arises from a record 245,000 ETH buy orders stacked between $3,000 to $3,400.

Ether could potentially retest $3,100 as it maintains strength against market weakness. Institutional confidence is evident with aggressive accumulation, signaling bullish sentiment. Strategic accumulation among large corporations has nearly doubled in recent weeks. A short-term liquidity gap poses a risk, with a potential drop to $3,400 or $3,100 still on the table.

Read more at Cointelegraph: ETH Bulls Hold Steady As Bitcoin Price Takes A Dive