The Whales Are Ready: Ethereum’s Big Price Surge Could Be Closer Than You Think!

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  • The wider altcoin market, led by memecoins, is practically waving a flag announcing a bullish breakout – it’s coming soon, whether you like it or not, especially with those trade war talks still in the air.
  • ETH/USD is following a pattern eerily similar to that 2020/2021 cycle – a familiar déjà vu for crypto enthusiasts, no doubt.

Ethereum (ETH), like the calm before the storm, has been holding steady around $1,583 these last three days. This large-cap altcoin, flaunting a fully diluted valuation of about $192 billion and a whopping 24-hour trading volume of $8.52 billion, might just be prepping for a bold rebound after a period of, let’s say, “resting” in the past week. A little time off never hurt anyone, right?

To add a dash of drama, gold prices took a little dip in the last 24 hours, swiftly prompting cash to flow into the oversold crypto market. Seems like the stock market’s volatility is finally getting overshadowed by crypto’s steady rise to fame. Who would’ve thought?

Ethereum Whales: The Shopping Spree Begins

Brace yourselves – the whales are back. On-chain data reveals an uptick in whale activity as they eagerly scoop up Ether from centralized exchanges. For example, a whale wallet linked to Metalpha has swiped a casual 29k Ether from Binance – nearly $49 million. Just a regular day in the crypto world.

But wait, there’s more! Another whale has withdrawn a cool 46,577 Ether, valued at about $97.26 million, from Gate.io since February 15. Yet another one quietly took out 10,091 ETH from Bybit, totaling $18.8 million. Must be nice, right?

However, not everything is rosy. While these whales are busy with their shopping carts, the demand for Ether from institutional investors, particularly those U.S. spot ETH ETFs, is still a bit on the low side. Just ask Galaxy Digital, which deposited 62,181 ETH, worth about $100 million, into various exchanges over the past six days. Their wallets seem to be bulging a little too.

ETH Price Analysis: The Road Ahead

Let’s talk about price action. In the weekly timeframe, Ether has been on a slow bleed against the U.S. dollar since mid-December 2024. But hold your horses – it’s been bleeding to Bitcoin since August 2022 too. Ouch! Both ETH/USD and ETH/BTC are heavily oversold, so we could be in for a surprise rebound, thanks to some solid fundamentals (cross your fingers). The gods of crypto might be in our favor after all.

In the daily timeframe, ETH/USD is shaping up a potential reversal pattern, possibly forming a symmetrical triangle. Translation: if it closes consistently above that falling trend, we could see a nice rally to $2.1k. A little bullish drama ahead!

But don’t get too carried away. If ETH decides to take a tumble below $1,500 in the coming days, it could lead to more capitulation. If that happens, brace for a possible drop to $1,290. And here we thought crypto was all sunshine and rainbows…

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2025-04-18 22:08