Ethereum (ETH) has risen 5.7% this week and is at an intraday high of $2,495. The rally is driven by a accumulation phase from big holders. According to on-chain analyst Ali Martinez, Ethereum whales have added over 450,000 ETH to their stacks in the last month.
This accumulation trend matches the market volatility and growing institutional interest in digital assets. Ethereum’s daily trading volume is now over $20.9 billion, even though the price is struggling to break above $2,500.
Ethereum is the second largest cryptocurrency by market cap, currently at $298 billion, with a circulating supply of 120.7 million ETH.
Ethereum Faces Resistance
Despite the weekly rally, Ethereum is now facing resistance. The price is at $2,478, just below the 50-period EMA ($2,535). A descending triangle is forming on the 2-hour chart—a bearish setup—marked by lower highs and support at $2,420.
- Resistance zones: $2,535, $2,591, $2,648
- Support zones: $2,420, $2,348, $2,278
- Bias: Bearish below $2,535
The MACD momentum indicator agrees with this view, the histogram and signal lines are below zero. Recent candle structure shows weak buying interest, more likely to break down.
Ethereum Trade Setup: Watch for Triangle Break
Ethereum price prediction is coiled, waiting to break out. A strong move below $2,420 with volume could trigger a deeper pullback to $2,348 and $2,278.
A bullish engulfing candle above $2,535 would invalidate the bearish thesis and open up for a retest of $2,648 and maybe higher.
Short trade setup:
- Entry: Below $2,420
- Target: $2,348 and $2,278
- Stop-loss: Above $2,515
For now, we wait. Whales are buying and overall crypto is bullish, so Ethereum’s next big move will come with Bitcoin’s move near $103K. Watch for clean breaks or rejections.
BTC Bull Token Nears $6.84M Cap as 71% Staking Yield Drives Demand
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Key Stats:
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- Token Price: $0.002515
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The post Ethereum Price Prediction: ETH Surges 5.7% to $2,495 in Explosive Weekly Rally as Whales Accumulate While Bitcoin Approaches $104K Resistance appeared first on Cryptonews.
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