Ethereum is about to explode! Whales are aggressively accumulating, is a price breakthrough imminent?

Ethereum (ETH) has recently experienced significant on-chain changes, with long-term holders increasing their holdings by 22%. Despite price fluctuations, these investors remain steadfast in their accumulation. As the important network upgrade on May 7 approaches, the market's tense atmosphere has intensified, with traders and investors preparing for a price breakthrough.

In recent months, the price of Ethereum has been under pressure, but long-term holders have not been influenced by short-term fluctuations and continue to accumulate ETH. These investors show strong long-term confidence, expecting Ethereum's value to appreciate in the future. Currently, the price of Ethereum remains between $1,783 and $1,831, with the Bollinger Bands tightening, indicating an imminent breakthrough.

The derivatives market is also showing bullish sentiment, with options trading volume surging by 75%, indicating that traders are looking forward to upcoming price volatility. Analysts state that Ethereum is in an ascending triangle pattern, and after breaking through $1,950, it may experience a strong rally.

Additionally, with the impending Pectra upgrade, the increase in the staking cap for validators, and the improvement in blockchain throughput, interest in Ethereum continues to rise in the market, especially driven by institutional investors. Investors believe that buying ETH now has the same potential as buying BTC at $4,000 years ago.