- After the market dropped, 7 Siblings spent 28.75M DAI to buy 12,070 ETH at $2,382 again.
- Eric Trump tweeted “Buy the dips”, does it mean now is the right time to buy ETH?
As the crypto market faced downturns, the ‘7 Siblings’ wallet continued to strategically invest heavily in Ethereum [ETH] which showed their remarkable market optimism.
Recent transaction data revealed that within a brief window, ‘7 Siblings ‘exchanged a staggering 28.75 million DAI to acquire 12,070 ETH, pricing each unit at approximately $2,382.
This echoed their last buy when ETH dipped to similar levels.
This purchase was part of a broader strategy evident from their holding of 1.15 million ETH, valued around $2.8 billion, across just two wallets.
Observing their pattern of investment, it can confirm that the ‘7 Siblings’ have been buying every significant dip on Ethereum.
Source: Lookonchain
This aggressive acquisition occurred amid wider market unease, suggesting a strong belief in Ethereum’s long-term value.
Their actions aligned with public sentiments echoed President Donald Trump’s son, Eric Trump, whose recent tweet mirrored the timing of 7 Siblings’ purchases. Trump wrote on X;
“₿uy the dips!!!”
Such endorsements often catalyze broader investor interest. If the trend persists and more large holders increase their holdings during dips, ETH could strengthen its market position.
Conversely, if the broader market fails to stabilize, even hefty buys might not forestall a potential downturn.
What’s next as ETH price action gets in oversold territory?
Ethereum’s price points to potential buys as it entered oversold territory, according to its latest RSI reading. This marks a potential turning point for investors. ETH gained more than 6% in the past 24 hours after the sharp drop, at press time.
The RSI, having dipped below 30 recently, began to diverge positively, indicating lessening downward momentum even as prices continue to decline. This suggests that while sellers have been aggressive, the selling pressure might be exhausting itself.
ETH prices have consistently declined since the start of the year but are now approaching a critical support level of around $2,480.
If this level holds, it could signal a reversal point for the market, presenting a buying opportunity for those watching these technical indicators.
Source: TradingView
Historically, such RSI divergences have often preceded notable recoveries in Ethereum’s price.
If sentiment shifts, bolstered by macroeconomic factors and large holders’ activity, ETH could retest higher resistance levels seen in December 2024.
Conversely, if the support fails under continued selling pressure, prices may fall further, testing lower thresholds below $2,000.
This scenario would demand greater caution, as it could indicate a more extended bearish phase before any recovery takes hold.
