Ethereum (ETH) has caught the attention of major players once again. Over the past few days, whale walletsāthose holding 10,000 ETH or moreāhave resumed aggressive accumulation. This raises one critical question for traders: Is a breakout rally just around the corner?
š On-Chain Signals Turning Bullish
According to Glassnode and Lookonchain data:
Over 120,000 ETH has been accumulated by whales in the past week.
Most of this buying occurred between the $3,100ā$3,250 range.
Exchange balances continue to drop, suggesting a shift toward long-term holding.
This whale behavior typically signals high confidence in ETHās mid-term trajectory.
š§ What Could Be Driving This Accumulation?
Several catalysts may be fueling this whale interest:
š§ ETH 2.0 updates are progressing smoothly, with staking rewards stabilizing.
š¦ Institutional adoption via ETFs and DeFi integrations is growing.
šļø Renewed bullish sentiment across the broader altcoin market.
All these factors hint at a potential demand shock brewing.
š Chart Analysis: Bullish Flag Forming?
Technical indicators are lining up:
ETH is consolidating above $3,200, forming a bullish flag on the daily chart.
RSI remains neutral (~53), suggesting there's room to run.
A confirmed breakout above $3,350 could open the door to $3,800 and beyond.
š§ What Traders Should Watch
ā Support Zones: $3,050 ā $3,100
ā ļø Key Resistance: $3,350 ā $3,500
šØ Breakout Confirmation: Strong daily candle above $3,350 with volume
š¬ Final Thought
Whales rarely move without reason. Their recent ETH accumulation may be signaling a major trend shift ahead. Whether you're long-term bullish or trading short-term swings, now might be the time to pay close attention to Ethereum.