Banner Image Suggestion: Ethereum’s logo surging above a chart with key levels ($2,530, $2,850) and whale icons, set against a dynamic crypto-themed background. 
### Whale Activity Fuels Accumulation
Ethereum $ETH rebounded 2% to $2,560 on May 17, 2025, as whales triggered 230,000 ETH in net exchange outflows — the largest single-day withdrawal since March 7. Investors holding 10K–100K ETH accumulated 520,000 ETH since May 15, signaling renewed confidence. Asset manager Abraxas Capital notably withdrew 278,639 ETH from exchanges, aligning with rising ETH staking post-Pectra upgrade .
### Profit-Taking and Technical Outlook
Despite bullish momentum, investors realized $1.5B in profits from ETH’s recent 30% rally, causing a brief dip to $2,530. Technical analysis shows ETH faces resistance at the 200-day SMA ($2,750), with a breakout above this level potentially targeting $2,850. However, declining trading volume suggests a consolidation phase similar to April–May 2025 if $2,530 holds. The RSI (73) and Stochastic Oscillator remain overbought but are cooling, indicating tempered bullish sentiment .
### Catalysts and Risks Ahead
The Pectra upgrade (May 7) continues driving ecosystem growth, with active addresses surging 18% post-implementation. Analysts highlight ETH’s deflationary supply and institutional inflows as long-term bullish factors, with price predictions reaching $6,500+ by 2025 . Short-term risks include a breakdown below $2,530, which could test $2,100–$2,260 support amid broader market volatility .
Conclusion: Ethereum’s rebound reflects strong whale accumulation and staking demand. While profit-taking persists, technicals and upgrades support a bullish bias above $2,530.
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