Ethereum Stays at $3,890.76 Following Whale's $20 Million ETH Purchase: Understanding the Impact, Possible Approach to New All-Time High (ATH)
In the past two weeks, Ethereum (ETH) has seen a significant surge in buying activity, with whales purchasing over 1.3 million Ether tokens worth approximately $4.18 billion. This massive ETH withdrawal signals market confidence in Ether, as institutions prepare for an upcoming bull run.
Currently, Ether is trading at $3,890.76, up 3.1% over the past 24 hours. The asset's trading volume surged by 48.60% during this period, indicating robust demand from buyers amid the consolidation.
The current trend for Ethereum price action shows strong whale accumulation and consolidation, which supports a bullish outlook and potential price breakout in the near term. On-chain data reveal increased staking, reducing circulating supply, further supporting price gains.
According to technical indicators, the Ethereum price is expected to trade between $3,200 and $3,700 through late 2025. Volume analysis indicates accumulation at higher price levels, reinforcing a bullish flag pattern with upside targets possibly near $3,400 initially and climbing steadily thereafter.
More bullish forecasts by institutions and analysts predict Ethereum could surge significantly by the end of 2025, with some targeting $6,000 to $10,000+, driven by increased institutional adoption, Ethereum’s role in tokenized real-world assets, and growing DeFi and layer-2 ecosystem usage.
Short-term price action supports a cautiously optimistic stance. Traders watch critical support zones at approximately $2,300 to $2,400 and resistance near $2,800 to $2,900; a breakout above $3,000 is widely regarded as a bullish signal that could accelerate momentum toward new highs.
Despite the surge, Ether is currently experiencing a light consolidation, up 2.7% over the past seven days. Ether's Open Interest (OI) has increased today by 8.24%, indicating increased activity in futures markets.
Recent consolidation has attracted purchasing interest, potentially indicating an upcoming upward movement for Ether. A trader spent $20 million USDT to buy 5,097.17 ETH at a price of $3,924, further supporting the bullish sentiment.
In summary, the trend of whale accumulation and consolidation, coupled with institutional inflows and network fundamentals, sets the stage for a likely bullish breakout and continued price appreciation for ETH through 2025. Price predictions vary, but there is consensus around a strong upward trajectory ranging from $3,300–$3,700 in the short term to $6,000–$10,000+ by year-end, depending on broader market dynamics.
[1] Data from Glassnode [2] Data from Santiment [3] Data from Cointelegraph Markets Pro
- The recent surge in Ethereum's buying activity, led by whales purchasing over 1.3 million Ether tokens, suggests market confidence in Ether as institutions prepare for a bull run.
- The current trend for Ethereum price action indicates strong whale accumulation and consolidation, supporting a bullish outlook and potential price breakout in the near term.
- Technical indicators suggest the Ethereum price is expected to trade between $3,200 and $3,700 through late 2025, with increased institutional adoption, Ethereum’s role in tokenized real-world assets, and growing DeFi and layer-2 ecosystem usage potentially driving prices higher.
- A trader spent $20 million USDT to buy 5,097.17 Ether at a price of $3,924, further supporting the bullish sentiment amid current consolidation.
- Despite the consensus around a strong upward trajectory for ETH, traders should remain cautiously optimistic, watching critical support zones and resistance levels, as a breakout above $3,000 could accelerate momentum toward new highs.
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