Whales Gobble Up ETH: Ethereum Primed for Explosive $4K Breakout

Ethereum's price action just got a lot more interesting—whales are loading their bags, and $4K looks like the next stop.

### The Whale Feeding Frenzy

Big-money players aren’t just dipping toes—they’re diving headfirst into ETH. When these deep-pocketed investors move, markets listen. And right now? They’re screaming 'bullish.'

### The $4K Psychological Barrier

Breaking $4K isn’t just a number—it’s a signal. A decisive close above this level could trigger a FOMO cascade, leaving retail traders scrambling to catch up (as usual).

### The Cynic’s Corner

Of course, Wall Street will claim they saw it coming—right after they finish dumping their bags. Stay sharp.

TLDR

• ETH started a fresh increase above $2,520 but is now correcting gains below $2,550
• A whale withdrew $17.5M worth of ETH from Binance over three weeks, showing accumulation behavior
• Ethereum price follows Wyckoff pattern with targets of $2,800-$3,500 in the near term
• ETH bounced from long-term accumulation range near $2,350 with analysts projecting $4K rally potential
• Current price around $2,510 faces resistance at $2,800 level

Ethereum price has shown mixed signals in recent trading sessions as the cryptocurrency tests key support levels after a period of gains. The second-largest cryptocurrency by market cap started a fresh increase above the $2,520 zone but has since corrected some of those gains.

ETH is currently trading below $2,550 and the 100-hourly Simple Moving Average. The price gained pace for a MOVE above the $2,565 resistance zone and entered positive territory earlier.

Bulls pushed the price above the 61.8% Fibonacci retracement level of the downward move from the $2,636 swing high to the $2,475 low. However, bears remained active NEAR the $2,600 resistance zone and prevented further gains.

The price faced rejection near the 76.4% Fibonacci retracement level of the same downward move. ethereum is now testing the $2,520 support level.

Whale Activity Signals Strong Accumulation

On-chain data reveals strong accumulation behavior from large holders. An Ethereum whale withdrew approximately $17.5 million worth of ETH from Binance over a three-week period.

The most recent transfer involved 4.86 million through a Binance hot wallet. Previous transactions occurred a week and three weeks ago, with scales between 4.5 million and 8.1 million.

This whale withdrew another $4,860,000 $ETH from Binance.

He withdrew $17,500,000 Ethereum in the past 3 weeks. pic.twitter.com/lRzrhKrKQU

— Ted (@TedPillows) July 7, 2025

These regular outflows indicate that a high-confidence holder was reducing exposure to centralized exchanges. Part of the funds were shifted to Ethereum 2.0 Beacon Deposit Contracts, supporting the possibility that the assets will be staked.

Moving large volumes of ETH to self-custody or staking protocols typically indicates preparation for future holding rather than short-term trading.

Technical Analysis Points to Potential Rally

Analysts have identified that ethereum price structure followed the Wyckoff accumulation model. According to market analyst Cas Abbé, ETH hit a local top at $2,900 and then experienced a capitulation phase below $2,100.

$ETH is perfectly following its Wyckoff accumulation pattern.

A local top at $2.9K happened exactly along with a capitulation below $2,100.

Now, ETH is moving up again and the short-term target is $2,800.

If ETH manages a daily close above $2.8K, $3.5K ETH will happen within a… pic.twitter.com/4SprYqmrij

— Cas Abbé (@cas_abbe) July 6, 2025

This pattern mirrored the Wyckoff model’s Spring phase, which often precedes a new price expansion. The structure has reached the Sign of Strength and the Last Point of Support phases.

Within this structure, Ethereum price can further consolidate until it attempts to hit resistance at $2,800 with a breakout. If the asset manages a daily close above that level, technical projections estimate a short-term target of $3,500.

Another analyst, Kamran Asghar, pointed out that Ethereum price repeatedly bounced off a key support level near $2,350. This zone has formed the lower boundary of a broader accumulation range developing since May.

After briefly dipping below this area in late June, ETH recovered and re-entered the range. Kamran identified this recent bounce as confirmation that the bottom is in.

His visual projection targets a potential rally toward the $3,800-$4,000 zone, assuming ETH breaks out of its horizontal channel. The accumulation range has constrained the top altcoin between roughly $2,350 and $2,900.

At the time of writing, Ethereum price traded at around $2,510, slightly below the resistance mark at $2,800.