According to report issued by Glassnode,there been a significant change in the mood of mega-whales,who own more than 10000 #ETH , on the Ethreum Blockchain⛓️
Since late April 2025,the net position change has been highly positive, indicates the new accumulation. Which leads to ETH supplies go high to more than 40.75 million ETH held by these wallets(Purple line)
Ethereum has broken out of a long standing falling wedge formation, a typical bullish reversal position,indicating the possibility of an upward surge. It has almost gained around 41% in a week after the pectra update and tariff deal between U.S and China.
The breakout happens by a solid daily close above the level of $2600,which results the gain of 9.5% and aims to important Fibonacci retracement levels with immediate resistance at $3050(0.618 Fib).