- Ethereum is gaining bullish momentum as whale wallets accumulate 1.49 million ETH and institutional giants like BlackRock increase their holdings.
- With trading volumes surging and technical indicators tightening, a breakout above $2,600 could pave the way for a rally toward $3,000.
Ethereum (ETH) is making headlines once again as bullish momentum brews under the surface. The world’s second-largest cryptocurrency is trading at $2,575, up 1.5% in the last 24 hours, showing early signs of a possible breakout. With whale accumulation on the rise and trading volumes surging, investors are wondering: Is Ethereum gearing up for a rally above $2,600?
Whale and Institutional Buying Accelerates
On-chain analytics point to significant accumulation by large holders. In the past month, wallets holding between 1,000 and 100,000 ETH — often dubbed whales and sharks — have added a whopping 1.49 million ETH, bringing their total share of supply to nearly 27%. While retail traders appear to be taking profits, these big players are moving in, indicating confidence in Ethereum’s upside potential.
Institutional players are also piling in. BlackRock’s iShares Ethereum Trust added more than 1.5 million ETH worth roughly $4 billion, including nearly $240 million in just a three-day span this month. Cumberland and Galaxy Digital are reportedly expanding their Ethereum holdings as well, reinforcing the growing interest from Wall Street.
Trading Volume Surges, Technicals Hint at Breakout
ETH’s daily spot trading volume rose over 32% to $14.27 billion, while futures volume jumped 26.46% to $53.09 billion — clear signs of heightened market activity. Open interest has also edged up, signaling that more traders are entering positions in anticipation of a major move.
Technical indicators are flashing a potential breakout. ETH is trading just below its 20-day moving average, while Bollinger Bands are tightening — a classic signal of impending volatility. The RSI is neutral at 52, and the MACD is showing signs of bottoming out. A bullish MACD crossover could confirm upward momentum in the coming sessions.
Price Outlook: Eyes on $3,000?
If bulls manage to push ETH above the $2,600 mark with strong volume, the next resistance lies near $2,870. A close above that could pave the way for a rally toward the psychological $3,000 level. However, failure to hold above the 20-day average might trigger a retest of the $2,400 support zone.
With institutional giants backing Ethereum and whales accumulating, the stage may be set for ETH’s next big move.
