Now big players are crowding into Ethereum just as the network heads toward its Fusaka upgrade. From BitMine’s 21,537 ETH buy to fresh support bounces on the chart, the market is lining up for the next move. BitMine Adds 21,537 ETH as Tom Lee Keeps Buying BitMine bought 21,537 Ether worth about 59.17 million dollars today, according to on-chain transfer data shared by analyst Alek Carter. The transaction shows a large batch of ETH moving into a wallet linked to the firm within the last 12 hours. BitMine ETH Purchase. Source: Alek Carter on X At the same time, strategist Tom Lee is still adding to his Ethereum position, Carter said. His continued accumulation comes as BitMine’s purchase joins a series of large institutional-style flows into Ether this week. The transfer log lists the 21,537 ETH deposit alongside a smaller earlier test transaction, which appeared about a day before the main move. The pattern matches typical behavior for large buyers, who often send a small amount first and then complete the full transfer after confirming the route. Ethereum Eyes Post-Fusaka Upside as Upgrade Nears Meanwhile, Ethereum’s Fusaka upgrade is set for mainnet activation on December 3, 2025, according to analyst Pepe Onlyfrens. He cites Grok data showing that past major Ethereum upgrades have often been followed by gains of roughly 10 to 50 percent over the next one to six months. Ethereum Fusaka Upgrade Chart. Source: Pepe Onlyfrens on X In his new chart, Onlyfrens maps an inverse head-and-shoulders structure that he says could launch a larger fifth wave advance. The weekly setup places current price near 2,746 dollars, with Fib retracement support highlighted around 2,642 and 2,268 dollars. At the same time, his long-term projection outlines a potential target zone between about 9,600 and 13,500 dollars, marked by the 1.414 and 1.618 Fibonacci extensions. The path sketches a gradual climb from today’s levels toward that band after Fusaka, assuming the right-shoulder low holds and the broader bullish pattern completes. Ethereum Holds Key Support as Buyers Defend the Zone Ethereum is stabilizing on a major daily support area, according to a new chart shared by Token Talk. The zone sits just below 2,800 dollars, where price has bounced several times through the year. The latest retest shows ETH tapping the band and closing back above it. Ethereum Support Zone Rebound. Source: Token Talk At the same time, the daily structure still reflects a broader downtrend from the September peak. Each lower high has pushed ETH toward this support region, making the current reaction an important test for short-term momentum. The chart marks a clear rebound wick, suggesting buyers stepped in aggressively at the lower boundary. The update also outlines a potential recovery path if this level continues to hold. Token Talk highlights an upward projection from the support band, pointing toward the 3,000 to 3,200 zone as the first area to watch. The setup shows how the next sessions will determine whether ETH maintains this base or returns to pressure the support again.
