Key Points
- Ethereum whales have purchased nearly $1B of Ethereum, causing a 9% weekly gain.
- Ethereum’s price could potentially reach the $2,196-$3,900 range if it continues to show strong reactions below $2,000.
Ethereum is currently trading around $2,065, showing a 9% weekly increase. This surge is largely due to significant accumulation by Ethereum whales. In the past week, these whales have acquired approximately 470,000 Ethereum, which equates to around $1 billion.
According to on-chain data from Glassnode, Ethereum whales, who hold between 10,000 and 100,000 Ethereum, have increased their holdings by about 29% in the last two weeks.
Increasing Ethereum Holders
The number of addresses holding at least $100,000 worth of Ethereum has risen from around 70,000 addresses on March 10 to approximately 75,000 at present.
Ethereum has recently retested its multi-year trendline support level. This is a zone that has only been revisited three times since 2021: in June 2022, November 2022, and now in March 2025. Historically, this support level has signaled the bottom before significant rallies.
Crypto analyst Rekt Capital suggests that if Ethereum generates a strong reaction below $2,000, it could reclaim the $2,196–$3,900 macro range.
Ethereum’s Price Outlook
On Ethereum’s daily chart, the price recently approached the mid Bollinger Band (20-day SMA), which acts as a resistance level around $2,100. A breakout above this midline could push Ethereum toward the upper band near $2,230.
The RSI has climbed to 46, rebounding from oversold territory. This upward trajectory suggests strengthening momentum.
Similarly, the MACD line has moved above the signal line, indicating a bullish crossover. The green histogram bars suggest increasing buying momentum. If the MACD sustains this motion, it could signal the beginning of a broader uptrend.
Interestingly, Ethereum appears to be forming a double-bottom pattern on the daily chart as the price recently bounced off the $1,950–$2,000 support zone twice. If it breaks above the $2,200 resistance, it could confirm the pattern and trigger a rally toward the $2,400–$2,500 range.
Long-term investor sentiment toward Ethereum remains bullish. Asset management giant VanEck recently predicted a $6,000 cycle top for Ethereum by the end of 2025, citing increased institutional adoption.
