Ethereum consolidates near $2,900 as diamond reversal and macro double bottom target potential move toward $3,600

Ethereum is trading around $2,900 after a more than 3% daily decline and roughly 12% losses over the past week, slipping below the $3,000 level. Technical analysts highlight a diamond pattern on the 1‑hour chart and a multi‑year double bottom with an embedded inverse head‑and‑shoulders on the monthly chart, pointing to a possible push toward $3,600 if bullish momentum returns. Despite weak price action and an RSI near 43, large holders have reportedly been quietly accumulating ETH through OTC channels, including a single whale purchase of over 20,000 ETH valued at about $59 million.