Ethereum is entering a decisive phase as it holds a support level of $2,500 after several breakthrough attempts in recent weeks all exceeded $2,700. The wider market is under pressure, but Ethereum remains a focal point for analysts who believe that breaking through the series could inspire a full season. Although volatility remains higher, sentiment is slowly shifting as on-chain chain activity and market activity reveals encouraging trends.
One of the strongest signals comes from binary, and Ethereum whale activity surges again. According to recent data, large orders have begun to pour into exchanges since May 19, the same signal as before the explosive rally of ETH at the end of 2023. This wallet-held investor return has restored confidence and increased interest in Ethereum at the current level.
As macroeconomic uncertainty continues to shape financial markets, ETH’s ability to hold over $2,500 can determine the next major action in the cryptocurrency market. If buyers step in strongly, Ethereum can lead the fees of altcoins in the coming weeks. Currently, as traders prepare for what might be a key breakthrough, everyone’s eyes are focused on price action and whale behavior.
Ethereum whale returns when bullish signal flashes
Over the past year, Ethereum has lagged behind Bitcoin, underperforming and working hard to build momentum in the face of ongoing sales pressure and indecisive price action. As BTC rises to new all-time highs, ETH is still locked in a range, disappointing investors and has led many to question its leadership in the Altcoin space.
However, the recent price action tells a different story. Over the past few weeks, Ethereum has entered a more constructive phase. Despite the ongoing geopolitical tensions, especially between the United States, Ethereum has shown resilience, holding more than $2,500 and trying to return to higher levels. Now, the shift in sentiment is strengthening through chain and market data.
Top analyst DarkFost shared a compelling metric that shows that Ethereum whales are active again. His chart combines live and futures market activity, cumulative volume and moving averages – producing a rare all-in-one signal. The last time the signal lit up was in December 2023, just before Ethereum exploded from $2,200 to $4,000 in a few weeks.
According to Darkfost, large-scale purchase orders for whales have been causing second-hand products to appear in their bodies since May 19. The surge in large-scale activity is an encouraging signal that may mark an early stage of a new bullish trend.
Ethereum price analysis: Bulls defend key support within integration scope
Ethereum (ETH) has repeatedly rejected the $2,700 resistance zone in the past few weeks, and the current transaction is around $2,512. As can be seen from the daily chart, ETH enters a lateral integration phase that fluctuates between a 34-day EMA ($2,378) and a 200-day SMA ($2,683). Despite the recent pullback, the Bulls are still defending the $2,500 area, which is now short-term support.
The graph shows clear range formation and reduced volume, which indicates that the market is waiting for a breakthrough decision. ETH is still above its 34-day EMA and all short-term moving averages (50/100 SMA), indicating that the temporary uptrend structure is complete. But any strong daily shutdown of $2,480-$2,500 can turn the movement force and invite a deeper backtrack to $2,350.
To restore bullish momentum, Ethereum must regain the $2,700 resistance zone with belief, as this level has limited all upside attempts since early May. If successful, the breakthrough could open the door to selling for $3,000 and beyond.
Featured images from DALL-E, charts from TradingView
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