Ethereum Primed for a Repeat Performance? Bulls Eye Another Mega Rally

Deja vu in crypto land—ETH charts flash eerily familiar patterns.

Technical setups suggest Ethereum’s gearing up for a parabolic move. The same signals that preceded previous bull runs are blinking green again. But will Wall Street’s ’risk-on’ algorithms actually let retail traders front-run the action this time?

Key levels to watch: A clean break above $4,500 could trigger FOMO-fueled acceleration. Meanwhile, Bitcoin maximalists are already shorting ETH futures ’for diversification’—as if their 2018 playbooks still work.

One thing’s certain: if this plays out like prior cycles, the SEC will suddenly remember crypto exists right as prices peak.

TLDR

• Ethereum (ETH) price is consolidating around $2,537 after failing to break resistance at $2,800
• Whale activity on Binance shows large investors are accumulating ETH since May 19
• The same whale accumulation pattern preceded an 80% rally from $2,200 to $4,000 in December 2023
• ETH faces immediate resistance at $2,550-$2,600 with key support at $2,470
• Technical analysis suggests potential for recovery if bulls can reclaim $2,620 level

Ethereum price has been stuck in a consolidation phase around $2,537, showing a modest 0.5% gain in the past 24 hours. The second-largest cryptocurrency has struggled to break through resistance levels near $2,800 over recent weeks.

The digital asset lost the important $3,000 level in early February and has failed to build sustained upward momentum since then. ETH has only managed to reach above $2,700 multiple times in recent weeks before pulling back.

Recent price action shows ethereum declining from the $2,650 support zone. The cryptocurrency failed to recover losses and extended its decline below the $2,600 level.

ETH even dropped below $2,550, forming a low at $2,470 before beginning to consolidate. The price managed to MOVE above $2,500 and broke above a key bearish trend line.

On-Chain Signals Point to Whale Accumulation

Market data reveals that large investors may be positioning for a potential rally. Ethereum’s Average Order Size on Binance has shown increased whale activity since May 19.

This metric divides total trading volume by the number of trades on the exchange. It helps identify whether large institutional investors or retail traders are more active.

🔥 Ethereum whales are back on Binance !

This chart gives an instant snapshot of Ethereum’s sentiment and momentum on Binance, combining key market data on spot and futures activity, cumulative volumes, with moving averages comparison.

📊 In short, it’s an all-in-one signal,… pic.twitter.com/YCdaQJjDzd

— Darkfost (@Darkfost_Coc) May 31, 2025

The data shows whale orders have returned to Binance in recent weeks. This pattern previously appeared in December 2023, right before ETH surged from $2,200 to $4,000.

That previous rally represented an 80% price increase over several months. crypto analyst Darkfost noted this indicator combines spot and futures activity data with cumulative volumes.

The analyst explained that whales often position themselves early when broader trends show signs of strength. They don’t always wait for the lowest entry points.

Large investors appear to have used May as an entry window for accumulating Ethereum. The whale activity suggests institutional interest remains strong despite recent price weakness.

Technical Resistance and Support Levels

Current technical analysis shows ETH trading below $2,600 and the 100-hourly Simple Moving Average. The price tested the 23.6% Fibonacci retracement level of the recent decline.

On the upside, Ethereum faces resistance NEAR $2,550. The next key resistance level sits around $2,600, followed by major resistance at $2,620.

The $2,620 level aligns with the 50% Fibonacci retracement of the downward move from $2,787 to $2,470. Breaking above this level could send the price toward $2,720 resistance.

A move above $2,720 might trigger additional gains in coming sessions. In that scenario, Ether could rise toward $2,780 or even $2,880 in the near term.

The current consolidation phase follows Ethereum’s strong start to May. The cryptocurrency is now attempting to stabilize after recent declines from higher resistance zones.

Market participants are watching whether bulls can regain control and push ETH back above key resistance levels. The combination of whale accumulation and technical setup suggests potential for upward movement.

Ethereum continues to hold above the $2,470 support level formed during the recent decline.