Key Insights:
- Ethereum is showing early signs of a breakout despite recent underperformance compared to other major cryptocurrencies.
- ETH Whales have withdrawn large amounts of Ethereum from exchanges, indicating a possible long-term accumulation trend.
- One whale address has accumulated over 48,000 ETH since February while holding a significant unrealized loss.
Ethereum’s (ETH) price shows early signs of a possible breakout despite recent underperformance. On-chain movements reveal that ETH Whales continue to accumulate significant amounts.
The combination of technical indicators and whale activity suggests a potential climb toward the $3,250 resistance zone.
ETH Whales Withdraw Millions from Exchanges
Large ETH Whales have withdrawn millions of Ethereum from major exchanges in recent hours.
The cryptocurrency asset made these transactions despite demonstrating inferior momentum than Bitcoin and major crypto holdings during this period.
The data obtained from Lookonchain supports the case that these transactions began during mid-February as part of a broader pattern.
A wallet at 0xd81E extracted 1,900 ETH, worth $3.1 Million, from the Gate cryptocurrency exchange network.
This Ethereum address pursued more than 48,000 withdrawals after February, which accumulated into $100 Million assets.
Present market rates reveal that this wallet has suffered a $21 Million paper value loss.
The dormant wallet address 0x3bd2 became operational to withdraw 2,600 ETH, valued at approximately $4.26 Million, from Binance.
This wallet remained inactive for 365 days until it carried out its recent transaction. Such actions by ETH Whales often suggest expectations of future price growth.
Mixed Whale Moves Signal Market Uncertainty
The recent decisions by whale investors do not necessarily point towards buying endeavours because they have taken contrary action.
A wallet at an alternate address spent 2,000 ETH, worth $3.72 Million, for short-term cryptocurrency betting.
The opposite market action of one whale group represents a difference in whale investment methods, even as the trend points towards accumulation.
While many ETH Whales accumulate, bearish positions still emerge during market uncertainty.
This dual approach from whale investors indicates a significant split among massive wallet holders.
The present market signals impact short-term traders above all else, despite their lack of interest in long-term trends.
The market is currently experiencing a transitional phase because traders are deciding whether to build up their positions as part of a new rally, even though prices show signs of a sustained drop.
Notably, macroeconomic regulations and political atmosphere cannot be ignored as decision-making factors influencing Ethereum sentiment.
The pathways to crucial resistance zones are still accessible for market momentum to shift.
ETH Price Eyes Major Trend Reversal
Ethereum’s price movements have continued a downward trend since December 2024, marking decreasing highs and lows.
Prices demonstrate changing behavior when they approach this possible reversal pattern.
The reversal confirmation requires technical analysts to observe multiple resistance areas clearing before it can be established.
The first resistance exists near $1,750, whereas $2,000 represents the intermediate barrier before the subsequent pinnacle stands at $2,500, and the essential level rests at $3,250.
Since Ethereum prices started dropping, the former support levels function as present-day resistance structures.
Breaking decisively through these resistance marks might indicate a major trend transformation.
The descending pattern from previous months supports bearish pressure by creating resistance levels for the bulls.
Early bullish momentum would become apparent after the price breaks above this trend line to reach $1,750.
If the breakout gains strength, ETH Whales would likely support a move beyond $2,000.
While Ethereum whales exhibit bullish tendencies, the broader market displays increasingly negative trends.
More traders now bet on the ETH price continuing to fall because the long/short ratio has evolved from above 1.1 to under 0.7.
The 4-hour ETH market gained predominance through increasing volumes of short positions during the recent trading period.
At least during this period, markets showed lower confidence in Ethereum based on current indications. While some ETH Whales buy the dip, others hedge with leveraged short positions.
Even with ETH Whales actively accumulating, bearish sentiment has introduced new volatility.
A sustained market condition without proper direction establishment will lead Ethereum to experience volatile price movements.
Market participants need evidence of changing trends to start investing in long-term strategies.
