Ethereum ($ETH ) is showing signs of a major breakout, with a potential 40–50% price surge if a rounded bottom pattern completes successfully. Let’s break it down:
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📊 Market Moves & Investor Behavior
Despite some turbulence, ETH held firm above $2,500 on Tuesday — even as both long- and short-term holders began offloading their tokens for profits and to cut losses.
Whales and institutional investors stepped in to counteract the selling pressure, keeping the market steady.
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🐳 Big Whale Activity & Institutional Moves
BTCS (Nasdaq-listed) scooped up 3,450 ETH worth $8.42M, increasing its stash to 12,500 ETH.
Abraxas Capital went on a buying spree too, acquiring 46,295 ETH on Monday alone — part of a massive 350,703 ETH accumulation since May 7.
On the flip side, ETH co-founder Jeffrey Wilcke raised eyebrows after moving his entire 105,737 ETH (~$275M) to Kraken, sparking market buzz and mild FUD.
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🔥 Technicals & On-Chain Signals
According to IntoTheBlock, about 70.78 million ETH were bought in the $2,348–$2,548 zone — a high activity area that’s becoming a critical support range.
Futures trading is heating up — red bubbles in ETH futures charts suggest rising volume or possible overheating.
Coinglass data reveals $71.83M in ETH futures liquidations in 24 hours — with $41.02M from longs and $30.81M from shorts.
Profit-taking surged with $300M in realized gains, while losses clocked over $60M, per Santiment.
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📈 Chart Pattern in Focus: The Rounded Bottom
On the weekly chart, ETH is battling to form a rounded bottom, currently facing friction near the $2,530 resistance and 50-week SMA.
If momentum picks up and price breaks above $2,850, it could validate the rounded bottom, possibly sparking a rally towards $3,500–$3,800.
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⚠️ Key Levels to Watch:
Support: $2,350–$2,500 zone
Resistance: $2,530, then $2,850
Critical Moving Averages: 50, 100, and 200-week SMAs
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🎯 Conclusion:
ETH’s setup is heating up with bullish accumulation, key support zones, and a potential breakout chart pattern. All eyes are on whether the rounded bottom will deliver the goods. Watch closely — a confirmed move above $2,850 could send ETH flying.
🔥 Is ETH ready to erupt? The countdown may have begun!