Ethereum’s Next Big Move: 3 Bullish Signals That Could Skyrocket ETH

TL;DR

• Although ETH has been largely the biggest disappointment of the current cycle that started last year, there are certain factors suggesting it has a lot of room for growth, which could be around the corner.
• Whales are back on the offensive, and the declining sentiment could result in price reversal in the short term.

3 Factors Say Yey ETH

Data from Lookonchain suggests that Ethereum whales have reversed their strategy and have started to accumulate once again. The analytics platform outlined an address linked to Metalpha that has purchased roughly $50 million worth of the second-largest digital asset since April 1.

Another one withdrew almost $100 million in ETH out of GateIo, and a third one transferred more than 10,000 ETH from Bybit.

Whales accumulating again is a good sign for the underlying asset, as it reduces the immediate selling pressure and could lead to FOMO among smaller investors.

The second positive sign for ETH’s future price performance is the Market Cap to Realized Cap (MVRV) Price Band. The metric is used to determine the “best” buying opportunities when Ethereum dips below it, which is the current situation.

Rain told their 100,000 followers on X that Ethereum’s cycles tend to repeat themselves in a compelling manner. Basing their findings on the historical sentiment around the largest altcoins, the analyst determined that ETH will reclaim its strength and aim at $10,000 and beyond. This will shift the entire market structure, which includes “new narratives, new capital rotation, and new leaders.”

Is It Already Different?

Just a few days ago, CryptoPotato reported that different types of investors had sold off substantial portions of their ETH holdings. These included whales, Galaxy Digital, smaller investors, and those who entered through the ETFs.

However, the information above, including the accumulation by whales, suggests that the ETH market has reached an exhaustion point. After all, the asset is down by 60% since its December 2024 peak. For comparison, BTC, which actually managed to break its previous ATH, is down by only 22% since the January high.