Ethereum Whale Accumulation Sparks Bullish Outlook as ETH Shows Strength
Increased whale activity on the Ethereum network suggests growing institutional interest, with large transactions driving optimism for a sustained price rally. ETH’s technical structure appears bullish as on-chain metrics indicate accumulation by high-net-worth investors, potentially signaling upward momentum in the near term.
ETH Price Ready for a Breakout?
At the time of writing, Ether is trading around $1,648 with a market cap of $198.6 billion. On the daily ETH price chart, the RSI currently sits at 45.49, climbing out of oversold territory but still leaving plenty of room before for bulls.
Ether price chart | Source: TradingView
The price is testing the middle Bollinger band (20-day SMA), currently around $1,632. A clean breakout above the midline and eventual test of the upper band NEAR $1,827 would suggest stronger bullish momentum.
However, if Ether fails to hold the middle band, the lower band at $1,437 would act as the key support level.
The MACD indicator has recently started turning bullish, with the MACD line above the signal line. Meanwhile, green histogram bars also hint at bullish momentum.
Ether price chart | Source: TradingView
Key resistance remains at $1,830 and $2,000, with a crucial supply wall at $2,330, beyond which Martinez predicts a bull rally.
#Ethereum $ETH could kick off a new bull rally once it breaks through the supply wall at $2,330. pic.twitter.com/ImZnl4XOW0
— Ali (@ali_charts) April 21, 2025
Crypto commentator Tom Tucker pointed out on X that Ethereum is closely tracking global liquidity trends — another sign that the crypto could be “ready to lift off”.
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