Analysts highlight ETH USD priming to retest $4,700 – and amidst the pressure of upside down, is the dark money spinning into Ethereum?
The wallet, tied to a $300 million Coinbase scam, bought $18.9 million worth of ether as ETH was torn apart from $4,700 yesterday.
According to LookonChain, the crypto address linked to the “Coinbase Hacker” campaign purchased 3,976 ETH on September 13 for $18.9 million.
Hackers who stole over $300 million #coinbase Users purchased an additional 3,976 $ eth($18.9m) 1 hour ago at $4,756 https://t.co/xgglej7nrd pic.twitter.com/wrxobukk7k
– lookonchain (@lookonchain) September 13, 2025
The purchase, made at an average price of $4,756, came as ether was pushed above $4,700.
Analysts tracking the wallet say that before converting to ETH, the funds were attracting attention with DAIs of 189.11 million. Arkham Intelligence data Before swapping, we present the wallet aggregation DAI in amounts ranging from $80,000 to $6 million.
The address has also been active recently, winning 4,863 ETH and 649 ETH in July, and Solana worth around $8 million in August.
Blockchain Investigator Zachxbt Estimated The broader scheme released at least $330 million from the casualties earlier this year.
2/With me @tanuki42_ We checked Coinbase drawers and collected data from DMS for high confidence theft across various chains.
Below is a table showing $65 million stolen from Coinbase users between December 2024 and January 2025.
Our numbers are probably much lower… pic.twitter.com/zceq5aggyu
– Zachxbt (@zachxbt) February 3, 2025
Called a wide range of social engineering campaigns, this operation targets Coinbase users and maintains the wallet under close surveillance from analysts on the chain.
The latest timing of ETH accumulation has strengthened speculation on ethers in the market rotation.
Traders noted that the wallet movement coincided with ETH/USD’s new momentum, adding weight to the narrative of deep pocket actors moving into assets.
Ethereum Price Analysis: How much higher is the ETH if the $4,700 neckline is rested?
Ethereum shows new strength, with technical signals pointing to breakouts that could send prices to $5,500.
Follow Transaction Data ViewETH trades nearly $4,660, holding above the short-term moving average of the four-hour chart.
(Source – ETH USDT, TradingView))
The 50-EMA is $4,462 and the 100-EMA is $4,421, both facing upwards. This setup suggests that buyers will continue to maintain control despite the minor pullback.
More volume has been seen in recent sessions, supporting movements from the $4,300 range of ETH over $4,650 in just a few days.
The wider structure shows a recovery trend after several weeks of lateral action. Short-term candles reveal signs of fresh purchases, stable demand, following short dips.
Momentum may continue if your ETH holds support above 50-EMA. Otherwise, there is a risk that the price will return to the $4,400-$4,300 zone.
Crypto analyst Titan pointed out the double bottom pattern of Adam & Eve on his daily charts.
(Source – x))
The formation combines a sharp “V” shape low with a round base to indicate a potential inversion. The neckline is below $4,700, close to current levels.
A confirmed breakout in which the neckline projects travel targets measured along historic resistance to $5,500. This adds weight to the view that Ethereum can be set up for a more substantial gathering if pressure is kept.
What are Derivatives saying to us about Ethereum’s next move?
If Ethereum breaks above the neckline, traders could be bullish at $5,500 as their next target. But if that fails, the price could be pulled back to test how solid the recent gatherings are.
The activity of the derivatives indicates an increase in positioning. Coinglass data ETH futures puts a favorable interest of nearly $64 billion, but the funding rate for the final session was stable, hovering about 0.01% in the major exchanges, but not overkill.
(Source – Coinglass))
Spot ETF flow has also been improved. On September 12, Farside investors reported net inflows into US ETH funds after a few days of outflowrefers to fresh institutional demand.
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