Ethereum (ETH) Price Surge: Whale Activity Injects $3.8B as Recovery Accelerates

Whales are betting big on ETH''s comeback—just as retail traders start FOMO-ing in. Classic.

Price action flashes green as Ethereum''s network activity spikes. On-chain data shows institutional-sized wallets loading up—$3.8 billion worth of accumulation in recent weeks. Meanwhile, gas fees remain stubbornly high because apparently, we enjoy paying for the privilege of moving our own money.

The smart money''s move comes as ETH tests key resistance levels. Technicals suggest upside potential, but let''s be real—when whales move markets, retail gets stuck holding bags. Still, the network''s deflationary mechanics post-Merge keep bulls whispering ''digital gold 2.0.''

One hedge fund manager (who requested anonymity) quipped: ''We''re either early or wrong. With crypto, it''s usually both.''

TLDR

• Ethereum price is trading at $2,575, up 1.5% in the past 24 hours after testing support at $2,441
• Daily spot trading volume surged over 32% to $14.27 billion while futures volume increased 26.46% to $53.09 billion
• Large holders added 1.49 million ETH in the past month, now controlling 26.98% of total supply
• ETH broke above a contracting triangle pattern with resistance at $2,550 and faces next key resistance at $2,620
• Technical indicators show bullish momentum with MACD gaining strength and RSI above 50

Ethereum price has started showing signs of recovery after a sharp decline that took the cryptocurrency below key support levels. The second-largest digital asset by market value is currently trading near $2,575.

The recent price action began with a fresh decline below the $2,750 level. ETH continued falling and even broke below the $2,500 support zone before testing the $2,440 area.

A low was formed at $2,441 before the price began its recovery wave. The cryptocurrency has since moved above the $2,500 and $2,520 levels during this bounce.

ETH surpassed the 23.6% Fibonacci retracement level of the downward MOVE from the $2,880 swing high to the $2,441 low. The price also broke above a contracting triangle pattern with resistance at $2,550.

Increased Trading Activity

Trading activity around ethereum has picked up sharply in recent sessions. Daily spot trading volume rose over 32% to $14.27 billion in the past 24 hours.

Futures trading volume also increased by 26.46% to $53.09 billion according to Coinglass data. Open interest in ETH futures climbed 1.20% to $35.13 billion.

This increased activity suggests more traders are placing new positions. Many appear to be expecting a larger price movement in the NEAR term.

Large Holder Accumulation

On-chain data reveals growing interest from major investors. Wallets holding between 1,000 and 100,000 ETH have been buying heavily over the past month.

🐳 There are currently 6,392 wallets holding between 1K and 100K Ethereum. Over the past month alone, these key whale and shark wallets have rapidly added more coins as retail traders have taken profit.

During these past 30 days, a net of +1.49M more $ETH has been accumulated by… pic.twitter.com/1hPBTuAOrL

— Santiment (@santimentfeed) June 13, 2025

These larger holders, often called whales and sharks, have added 1.49 million ETH to their positions. Their total share of the ETH supply has reached 26.98%.

At the same time, many smaller holders appear to have sold their positions for profit. This suggests large players are accumulating while retail investors are taking gains.

The price has been trading in a range between $2,473 and $2,869 over the past week. This comes during a period when global markets have shown uncertainty due to geopolitical tensions.

Ethereum is currently trading near the 100-hourly Simple Moving Average. The immediate resistance level sits at $2,585.

The next key resistance zone is located at $2,620. A break above this level could open the path toward $2,660.

The $2,660 level represents the 50% Fibonacci retracement of the decline from $2,880 to $2,441. A clear move above this resistance might send the price toward $2,720.

If ETH fails to clear the $2,620 resistance, another decline could occur. Initial support on the downside sits near $2,540.

The first major support zone is located at $2,500. A move below this level might push the price back toward the $2,440 support area.

Technical indicators are showing bullish momentum. The MACD for ETH/USD is gaining strength in the positive zone.

The RSI indicator has moved above the 50 level, which typically suggests upward momentum. Both indicators support the current recovery attempt.

The cryptocurrency has gained 1.5% in the past 24 hours as whale accumulation continues and trading volumes increase across spot and futures markets.