Ethereum whale buys $29.95 million as $2,350 remains key resistance

Ethereum entered November trading near $2,230, with price action centered around a crucial support zone. This level has attracted renewed interest from major holders, overlapping with long-term accumulation signals and technical formations suggesting a potential recovery phase. On the daily chart, Ethereum is stabilizing around the 0.618 Fibonacci retracement near $2,219. The daily 200EMA acts as the first resistance at approximately $2,315, but the more significant barrier for buyers remains the horizontal region near $2,350. Previous rallies have struggled to break through this zone, and traders see a clear move above $2,350 as a stronger indication that bulls are regaining control. Technical support further below is layered, with the 0.65 Fibonacci retracement at $2,188 and the daily 200MA at $2,158.

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