Ethereum's recent price dip has captured the attention of large investors, who have been actively accumulating the coin following the Pectra upgrade on the Hoodi testnet.
Observations on Price Movements
Data from Lookonchain shows that nearly 16,000 ETH, worth around $32 million, was withdrawn from major exchanges. This accumulation followed a nearly 12% drop in Ethereum’s price over four days. Market participants are now closely monitoring for a potential bullish breakout.
Long-Term Ethereum Outlook
Analysts remain optimistic about Ethereum's future price movements. The macro breakout prediction after April comes from Crypto Patel based on historical market cycle analysis. Expert Michaël van de Poppe highlights the importance of crossing $2,150 as it could mark the start of a significant market uptrend. The future expansion of Ethereum relies on possible regulatory changes, such as the U.S. SEC's examination of Ethereum ETF staking opportunities.
Whale Confidence Signals
Ethereum's latest price movement has been accompanied by significant whale activity. Major investors withdraw funds from exchanges as they anticipate higher future returns. Technical analysis indicates key support at $1,874, with a critical barrier at $1,500. Increased buying pressure could swiftly bring Ethereum towards the $2,000 psychological level.
As whales continue accumulating ETH and key technical levels are tested, Ethereum's price movement remains a central focus in the cryptocurrency market. Investors are watching closely for signs of sustained recovery amid growing bullish sentiment.
