Ethereum (ETH) Gains Momentum as Whales Return to Accumulate
Ethereum (ETH) has seen a 6% price increase over the past week, climbing to $3,644 as it builds momentum toward the $4,000 mark. Whale accumulation has resumed after a brief dip earlier in January, a key signal of confidence in the market.
ETH/BTC Consolidation and Breakout Potential
ETH/BTC is showing signs of dominance over BTC, with a double-bottom pattern forming on the weekly chart. Historically, ETH/BTC consolidates between December and January before surging, and this cycle appears to be aligning similarly.
ETH has maintained support at $3,200 since December 19, 2024, and broke out of its consolidation on Friday 03, January 2025.
A daily candle closure above the $4,016 resistance level could signal the start of price discovery. Key price targets for Ethereum include:
- $6,865
- $10,454
- $17,633
Largest ETH Inflows Since 2021
On-chain data reveals that Ethereum’s net volume chart recorded its highest inflows since the beginning of the month, surpassing levels last seen in 2021. This indicates renewed investor interest and could further fuel ETH’s bullish trajectory.
Ethereum’s momentum, coupled with whale accumulation and historical trends, positions it as a strong contender for significant gains in the coming weeks.
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