Key Points
- Ethereum’s price is projected to reach $3,700 due to increased demand from whales and ETFs.
- Despite a declining trend, strong fundamentals and institutional demand could drive Ethereum’s growth.
Ethereum has experienced a downward trend over the past few months, while Bitcoin continues to hover around the $100,000 mark. Interestingly, Bitcoin’s dominance in the crypto market has been increasing.
Since the beginning of 2025, Bitcoin’s market dominance has risen by 5.84%, peaking at 64.34% during a recent market crash. Amid this growing dominance of Bitcoin, Ethereum is struggling to make its mark. However, recent low price rejection and strong fundamentals are expected to boost Ethereum, especially as institutional demand grows.
Predictions for Ethereum’s Future
Ted Pillows, a renowned cryptocurrency investor, recently tweeted that he doesn’t foresee any significant changes for Ethereum. Instead, he anticipates a continuation of Ethereum’s bullish trend.
Pillows shared a weekly price chart that shows a steady support trend line, suggesting an ascending triangle pattern. The chart’s overhead ceiling aligns with the $4000 psychological zone. In addition, Pillows highlighted a recent institutional purchase from BlackRock worth over $250. He expects this institutional support to influence Ethereum’s price action and believes the Ethereum bull cycle could surpass the $10,000 mark.
Whale Accumulation Indicates Uptrend
Despite recent market volatility, Ethereum’s balance by holding has shifted significantly. From a peak of $379.36 billion during the market crash, the whale holding dropped to $285.81 billion. However, as the market stabilizes, whale holdings have increased to $313.5 billion.
This surge over the past three days suggests a possible continuation of the uptrend. Not just whales, even holdings between $1 million and $10 million have increased from $27.41 billion to $29.6 billion since the market crash. This indicates that large players are acquiring more Ethereum as the market stabilizes, hinting at a possible bull rally.
Over the past two days, Ethereum has maintained its recovery trend. With a 2% surge on Wednesday, Ethereum continues the uptrend with an intraday surge of 1.45%.
Currently, Ethereum is trading at a market price of $2,828. However, the uptrend has not been able to overcome the recent bearish entrapment candle of 5.26% formed on February 4. This bearish influence remains significant, posing a potential threat to Ethereum. Furthermore, recent bullish failures in Ethereum’s price have set a strong bearish tone.
A post-retest reversal from $2,913 could likely test the $2,600 mark. On a positive note, if Ethereum’s price crosses the $3,000 milestone, it will be a key entry point for price action traders. This could potentially test the local resistance trendline near $3,200 and the next resistance level at $3,700.
