Ethereum (ETH) has been making waves in the cryptocurrency market, with its price hovering around $2500 after a slight pullback from recent highs near $2600. The past few weeks have been strong for ETH, with a 50% rally boosting its value. However, the market is currently in a wait-and-see mode, with traders keeping a close eye on the $2350 to $2425 zone for support. Any move above $2750 could spark fresh momentum for the digital asset. With network upgrades like ‘Pectra’ on the horizon and a rising demand for ETH in the DeFi sector, sentiment remains quietly bullish as investors wait for the next breakout trigger.
One interesting development in the market is the accumulation of ETH by whales. Despite market volatility, the token is still within a bullish range, and a breakout is expected to occur soon. Whales have been accumulating ETH at a large scale, signaling their confidence in the token’s potential. This accumulation is nearly two times larger than previous instances, indicating that both whales and bulls are optimistic about ETH’s future price action. This could lead to a breakout of the current consolidation phase and pave the way for a new bullish wave.
Looking ahead to 2025, the long-term outlook for ETH remains positive. The token is trading within a macro bullish flag, which could be more significant than short-term pullbacks. A breakout beyond the resistance level is anticipated to initiate a fresh upswing for ETH. The weekly chart of Ethereum shows a tight consolidation within predefined resistance and support levels, resembling the formation of a bull flag. A breakout from this range could propel the price beyond the resistance of the channel, setting the stage for further growth. As a result, ETH is poised to continue rising throughout 2026 and potentially reach new highs above $7000 in the early weeks of 2027.
In conclusion, Ethereum’s price trajectory remains bullish, with key indicators pointing towards further growth. With network upgrades and increasing demand in the DeFi sector, ETH is well-positioned for future success. Traders and investors are eagerly awaiting the next breakout trigger that could propel ETH to new heights in the coming years.