Ethereum Price Gains Momentum: Will Whales Push ETH Toward $4,000?

Ethereum price has climbed 6% this week as whale accumulation resumes and technical indicators signal bullish momentum. However, maintaining critical support at $3,543 is essential for ETH’s rally to continue.

Ethereum Price Momentum Builds as Whales Reenter Market

Ethereum (ETH) has shown promising growth over the past week, gaining 6% as it targets the psychological $4,000 level. With a golden cross formation and renewed whale accumulation, ETH’s outlook appears bullish, but its ability to maintain key support levels will determine whether the rally can sustain or face a pullback.

Technical Indicators Show Bullish Potential

Ethereum’s Relative Strength Index (RSI) stands at 63.6, a level that indicates neutral-to-bullish momentum. While the RSI briefly crossed into overbought territory (above 70) earlier this month, it has since cooled, suggesting a potential consolidation phase.

The golden cross formation—where the short-term Exponential Moving Average (EMA) crosses above the long-term EMA—on January 4 adds to ETH’s positive technical outlook. Historically, such formations often precede price surges, signaling renewed buying interest and potential upward momentum.

Whale Activity on the Rise

Whale accumulation has shown a strong rebound after a brief decline at the beginning of January. The number of wallets holding at least 1,000 ETH dropped from 5,634 on December 25 to 5,604 by January 2 but has since risen to 5,615.

This resurgence in whale activity suggests renewed confidence among large holders, who often have the power to influence market trends significantly. If the accumulation trend continues, it could bolster ETH’s price by increasing buying pressure.

However, any reversal in whale activity could weigh on market sentiment, potentially dampening ETH’s upward trajectory.

ETH Price Prediction: Will Support Hold?

Ethereum’s current rally faces resistance at $3,827, a critical level that could pave the way for further gains if breached. Analysts predict that breaking this barrier would set the stage for ETH to test $3,987, bringing it closer to the $4,000 milestone.

The support level at $3,543 is equally vital. Failure to maintain this support could trigger a price correction, with potential declines toward $3,300, $3,200, or $3,096. A breakdown of these levels might signal a broader bearish trend.

Outlook for 2025

As Ethereum consolidates near critical levels, its trajectory will depend on sustained whale activity, market sentiment, and broader crypto trends. With strong institutional interest and ongoing technological developments, ETH remains poised for potential growth. However, traders should monitor key support and resistance levels closely as they navigate the volatile crypto landscape.

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