Ethereum is currently trading around $2,550. Amidst a quiet market, new signals are emerging, indicating a potential breakout in the near future.
Whales' Activity in Ethereum
According to analyst Ali (@ali_charts), wallets holding between 10,000 and 100,000 ETH bought around 200,000 ETH over the weekend. This indicates confidence from major market players. The accumulation was steady, observed just as the Ethereum price dipped below $2,500.
Bullish Signals on Ethereum Charts
Trader Crypto Patel presented a chart that might indicate an upcoming breakout for Ethereum. His daily chart shows a series of higher lows, a classic sign of buyer confidence. Additionally, the chart outlines a falling wedge structure, often predicting an upside breakout.
Potential Price Levels for Ethereum
For Ethereum to reach $4,000, it must break above $2,800 with strong volume. Additionally, maintaining Bitcoin above $60K and improving overall crypto market sentiment is crucial. If all goes well, Ethereum may reach $3,400 in the short term and $4,000 later in Q3 or Q4.
Given the activity of major players, slow but steady bullish signals, and prospective market catalysts, Ethereum appears to have a strong chance for future growth.
