Key Insights:
- Ethereum price prediction suggests that ETH could see a price surge of over 40% until it reaches the $3,990 level.
- Abraxas Capital recently withdrew $38.28 million worth of ETH from Binance.
Amid market uncertainty, the Ethereum price prediction appears bullish, as interest from whales and institutions has skyrocketed. This strong bullish outlook has emerged during a period of prolonged consolidation for the asset.
Whales on a Buying Spree?
Recently, a crypto expert shared posts on X (formerly Twitter), noting that Ethereum is receiving massive attention from Abraxas Capital. The post mentioned that the financial firm recently withdrew $38.28 million worth of ETH from Binance.
In addition, earlier this month—before the rally—the firm had already made millions of dollars worth of investments in ETH. This consistent investment by industry giants highlights the long-term potential of Ethereum.
Moreover, another post on X shared that major industry giants continue to pour money into ETH. According to the data, ETH ETF inflows totaled $57 million, with BlackRock’s ETHA fund accumulating more Ethereum.
Current Price Momentum
Despite the notable interest and confidence from industry giants, ETH’s price continues to struggle. At press time, ETH was trading near $2,565 and had recorded a price decline of over 3.75% in the past 24 hours. During the same period, its trading volume dropped by a modest 7%, indicating lower participation from local traders and investors compared to the previous day.
This substantial inflow and withdrawal of ETH is raising several questions—whether this is the right time to buy, if an ETH consolidation breakout is imminent, and more
Ethereum (ETH) Price Action and Technical Analysis
According to expert technical analysis, the Ethereum price prediction suggests that the asset could remain sideways until it breaks out of the consolidation phase. The daily chart reveals that ETH has been consolidating within a very tight range between $1,400 and $2,730 for the past three weeks.
However, this consolidation is occurring along the 200-day Exponential Moving Average (EMA) and near a key resistance level at $2,835, indicating that the asset is in an uptrend.
Ethereum Price Prediction
Based on recent price action, if sentiment shifts and ETH breaks and closes a daily candle above the $2,835 level, the Ethereum price prediction could turn bullish. If this happens, ETH could see a price surge of over 40% until it reaches the $3,990 level.
On the other hand, the Ethereum price prediction could turn bearish if the lower support level breaks down. If this happens, there is a strong possibility that ETH could drop to the next support level at $2,150 in the near future
Besides this price prediction, ETH’s Relative Strength Index (RSI) stands at 57, indicating that the asset is approaching overbought territory. Meanwhile, it further suggests that the asset’s strength remains solid and that there is enough room for ETH to continue rising and potentially experience a significant upside rally.
Analyst’s Ethereum Price Prediction
Given the current market sentiment, a crypto analyst shared, “ETH is currently locked inside a textbook Right-Angled Descending Broadening Wedge : a powerful and rare pattern that historically leads to explosive breakouts.”
The post on X further noted, “Unlike typical wedge patterns, this structure widens as it descends, signaling increasing volatility and uncertainty. But that uncertainty can quickly turn into a powerful momentum ignition once the breakout is confirmed.”
According to the analyst, ETH could soon hit the $3,900 level. Meanwhile, the post further added that if this happens and the asset breaks this resistance—flipping it into support—the upside potential for ETH is massive, and it could even reach the $5,000 mark.