Ethereum whales have accumulated 500,000 ETH, valued at over $900 million, within the last 48 hours. This significant accumulation reflects strong confidence in Ethereum's short-term potential, driven by the crypto market's recovery, the upcoming Ethereum Dencun upgrade, and Ethereum's deflationary tokenomics. Historically, such whale activity has preceded major price movements, suggesting potential upward pressure on ETH's price. Investors are watching key resistance and support levels to determine if this accumulation will lead to a broader market rally.