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Crypto whales are making quiet moves in Ethereum (ETH) and Optimism (OP), while accumulation remains stagnant—or even negative—across most other major coins. Between April 4 and 6, both ETH and OP saw a notable increase in large wallet holders despite a harsh market correction.
This behavior often signals early confidence from institutional players, hinting at potential reversals ahead. With ETH nearing $1,400 and OP trading at three-year lows, the next few days could be pivotal if whale accumulation translates into renewed bullish momentum.
Ethereum (ETH)
Between April 5 and April 6, crypto whales accumulated ETH. The number of Ethereum whale wallets—those holding between 1,000 and 10,000 ETH—increased from 5,340 to 5,388, signaling a quiet accumulation phase during the broader market correction.
Tracking these large holders is crucial, as their behavior often precedes major market moves; when whales accumulate, it can indicate growing confidence in the asset’s long-term value and hint at a potential trend reversal.
Number of Addresses Holding Between 1,000 and 10,000 ETH. Source: Santiment.
However, the recent uptick in whale activity suggests some optimism beneath the surface. If momentum shifts and ETH manages to reclaim $1,748, it could rise further toward $1,938 and, with a strong enough rally, even retest the $2,000 mark—restoring a key psychological and technical level for bulls.
Optimism (OP)
The number of Optimism whale wallets—holding between 10,000 and 1,000,000 OP—rose from 4,138 on April 4 to 4,151 on April 6, suggesting that large holders are accumulating despite the ongoing market correction.
This increase in whale activity may indicate long-term confidence in the project, even as the broader market faces heavy selling pressure.
In periods of uncertainty like now, such accumulation can be an early sign of a potential price reversal, as institutional or high-net-worth investors often act ahead of retail sentiment.
Number of Addresses Holding Between 10,000 and 1,000,000 OP. Source: Santiment.
Currently trading near its lowest levels in nearly three years, OP is under significant downward pressure. If the correction persists, the token could break below the $0.50 support level.
However, if the recent whale accumulation reflects a shift in momentum, OP could rebound to test resistance at $0.65.
A breakout from that level may open the path toward $0.77 and, in a stronger recovery, even retest $0.84.
FORM hit an all-time high of ~$2.64 on May 5, 2025, with a current market cap of ~$942M; it needs to rise to ~$2.60–$2.65 to break the $1B market cap milestone.
Solayer reached ~$3.42 ATH on May 5, 2025, but has since dropped ~43% to ~$1.94, breaking below major support at $2.10–$2.20.
FORM remains in a bullish consolidation phase above key support; Solayer shows a bearish breakdown with resistance flipping at $2.10–$2.20.
FORM shows rising open interest, funding rates, and volume; Solayer shows falling open interest, negative funding, and increased liquidations.
FORM remains bullish toward $1B if support holds, while Solayer stays bearish unless it reclaims the $2.10–$2.20 zone.
FOU (FORM) is trading at ~$2.46 with a market cap of ~$942M and 24h volume up 281% to ~$72.56M, putting it just ~6% away from the $1B milestone, likely requiring a price push to ~$2.60–$2.65. Meanwhile, Solayer (LAYER) recently hit an ATH of ~$3.42 but has sharply declined ~43% to ~$1.94, facing heavy selling pressure.
FORM (FOUR) — Bullish Momentum Faces Key $2.10–$2.20 Test
FOUR (FORM) surged from ~$2.10 to an ATH of ~$2.64, pushing the market cap to ~$942M and bringing the $1B milestone within striking distance. However, momentum has started cooling, and the $2.10–$2.20 support zone now acts as a crucial hold level for bulls.
The RSI reached ~77 (overbought) but has slightly eased, suggesting short-term overheating may trigger a pullback or consolidation. Meanwhile, the MACD is showing signs of flattening, hinting that the recent rally is losing steam. OBV (On-Balance Volume) remains elevated, reflecting strong underlying buying activity, but any decline here would be a warning that capital inflows are slowing.
Short-term moving averages (9-period SMA) sit around ~$2.25, making this the first technical checkpoint. A breakdown below $2.10–$2.20 risks sending price toward deeper support at $2.00 and $1.77
FOUR On-Chain Overview
FORM (FOUR): Open interest surged from ~$40–50M in mid-April to ~$70M on May 6 as price exploded past $2.60, pointing to aggressive long buildup. OI-weighted funding rates turned positive in late April, confirming bullish leverage entering the market. Daily volume stayed moderate at ~$20–40M through April but jumped to ~$80–100M in early May during the breakout. Notably, May 5 saw a cluster of long liquidations following the rally, warning that late longs are now at risk of a shakeout if momentum fades.
Solayer (LAYER) — Breakdown in Play, Bounce Hinges on $1.90 Hold
Solayer (LAYER) surged from the March low near $1.07 to an ATH of $3.43, but momentum has sharply reversed following a breakdown from the rising wedge (bearish) pattern near $2.50. This breakdown accelerated a selloff toward the critical 0.618 Fibonacci retracement at $1.93, which now serves as the key make-or-break zone.
The RSI has cooled dramatically from overbought levels (>70) to ~40, signaling short-term exhaustion and opening the door to a potential relief bounce if buyers step in here. Meanwhile, the MACD shows a clear bearish crossover, underscoring the momentum shift. Crucially, OBV (On-Balance Volume) has declined steeply, confirming that this correction is driven by real capital outflows, not just a temporary sentiment shakeout — a red flag for dip buyers.
Short-term moving averages (9-period cross) have also flipped bearish, with price trading decisively below these trend gauges, suggesting that the immediate path of least resistance remains to the downside
Solayer (LAYER):
Open interest climbed steadily from ~$40M on April 23 to ~$60M by April 30 but has since cooled to ~$30–40M as price corrected from its $3.40 peak. Funding rates flipped sharply negative post-May 5, signaling a sentiment reset and heavy long unwinds.
Volume rose from ~$60–90M in late April to ~$150–180M highs but is now tapering, reflecting reduced speculative activity. Liquidations spiked dramatically on May 5–6, with both longs and shorts wiped out as the price plunged, amplifying intraday volatility.
The post FORM (FOUR) Eyes $1B MC; Solayer (LAYER) Slides After ATH – Key Levels & On-Chain Trends appeared first on Coinpedia Fintech News
Form Coin and Solayer Coin
