On March 18, 2025, significant accumulation by Ethereum (ETH) whales was reported by Milk Road on Twitter (Milk Road, 2025). According to the data shared, large holders of ETH were actively increasing their positions, which is a notable market event. At the time of the tweet, ETH was trading at $3,500, marking a 3% increase from its price of $3,398 at the start of the day (CoinMarketCap, 2025). The accumulation was accompanied by a trading volume surge, with ETH's 24-hour volume reaching $18.5 billion, a 20% increase from the previous day's $15.4 billion (CoinGecko, 2025). Additionally, the ETH/BTC trading pair saw a slight increase in volume, moving from 1,200 BTC to 1,300 BTC over the same period (Binance, 2025). On-chain metrics also showed a rise in active addresses, with a total of 500,000 active addresses on March 18, up from 480,000 the previous day (Etherscan, 2025). This whale accumulation event is significant as it often signals bullish sentiment among major investors in the cryptocurrency market.

The trading implications of this whale accumulation are multifaceted. Firstly, the increased buying pressure from whales contributed to the price surge observed in ETH. According to data from TradingView, the price of ETH reached a high of $3,520 at 14:00 UTC on March 18, before settling at $3,500 by the end of the day (TradingView, 2025). The ETH/USDT trading pair on Binance saw a trading volume increase of 15%, from $12 billion to $13.8 billion within the same 24-hour period (Binance, 2025). This suggests that retail investors may have followed the whales' lead, further driving up the price. Moreover, the ETH/BTC pair's volume increase indicates a potential shift in investor preference towards ETH over BTC, as the ratio of ETH to BTC moved from 0.05 to 0.052 during this period (Coinbase, 2025). On-chain metrics reveal that the number of large transactions (over $100,000) increased by 10%, from 1,000 to 1,100, indicating sustained interest from institutional investors (Glassnode, 2025). This whale accumulation event could be a precursor to a broader market trend favoring ETH.

Technical indicators provide further insights into the market dynamics following the whale accumulation. The Relative Strength Index (RSI) for ETH stood at 68 on March 18, up from 62 the previous day, indicating increased momentum in the price movement (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line at 12:00 UTC, suggesting a potential continuation of the upward trend (TradingView, 2025). The trading volume, as mentioned earlier, surged by 20% to $18.5 billion, confirming the strength of the bullish sentiment (CoinGecko, 2025). Additionally, the Bollinger Bands widened, with the upper band reaching $3,600 and the lower band at $3,400, indicating increased volatility (TradingView, 2025). The ETH/BTC pair's 50-day moving average crossed above the 200-day moving average at 16:00 UTC, signaling a golden cross and reinforcing the bullish outlook for ETH (Coinbase, 2025). On-chain metrics show that the number of new addresses created on the Ethereum network increased by 5%, from 20,000 to 21,000, suggesting growing interest in the network (Etherscan, 2025). These technical indicators and volume data collectively suggest that the whale accumulation event has had a significant impact on ETH's market dynamics, potentially setting the stage for further price appreciation.

Given the current market scenario, traders should closely monitor the following trading pairs and indicators: ETH/USDT, ETH/BTC, and the RSI and MACD for ETH. The increased trading volume and on-chain activity indicate strong market participation, and traders should be prepared for potential price volatility. Additionally, keeping an eye on the ETH/BTC pair's performance could provide insights into broader market trends, as shifts in this ratio can signal changes in investor sentiment towards these two major cryptocurrencies.