Acquisition of ETH worth 422 million Dollars: is the rise starting?

The price of Ethereum has risen to 2.491 Dollar, starting to recover after recent losses. Following the geopolitical tensions that arose over the weekend, the fallen ETH is beginning to attract investor interest again. Over the past two weeks, Ethereum has lost about 13% in value. Tensions in the Middle East and global economic uncertainty are putting pressure on the altcoin market as a whole. However, massive buying of ETH in such an environment indicates that the trend may reverse.
Corporate purchases are rising: 422 million Dollars ETH in 3 weeks
Investor Ted Pillows reported in his post on the social media platform X that a whale transaction purchased ETH worth 8.91 million Dollar in just one day through Galaxy Digital. It is noted that this individual or institution has accumulated a total of ETH worth 422 million Dollar over the past three weeks.
This rise again raises the question of institutional investors' trust in Ethereum. According to CoinShares data, digital asset funds purchased ETH worth 123 million Dollars in the week from June 17 to June 23.
Ethereum is still trading at 50% below its peak of 4,800 Dollar in 2021. This still creates a serious buying opportunity for large players.
Technical indicators indicate a reversal
Technical analytical data of Ethereum also shows positive signals. The relative strength indicator (RSI) is approaching the level of 50. This also indicates a weakening of selling pressure.
On the other hand, the MACD indicator ( convergence and divergence between moving averages ) has also reached a bottom in recent days. This situation indicates that a short-term rise may begin.
Most investors believe that the Layer-1 infrastructure of Ethereum and its total locked value of 61.7 billion Dollar (TVL) provide it with a strong position in the long term. Expected network upgrades and scalability measures also support these expectations.
Price Prediction: 3,000 Dollar at the door?
The growing interest from whales and the influx of institutional capital indicate that Ethereum may regain strength. Market experts predict that the price of Ethereum could reach 3,000 Dollars by the end of July, and 3,500 Dollars in September.
If global conditions remain stable, a strong rally for Ethereum may begin. Both technical analysis and institutional activity support this likelihood.