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Key Insights:
- Amid the shift in market sentiment, 52,671 ETH worth $146 million was transferred from Exchanges to an unknown wallet, hinting at potential accumulation.
- These massive transactions were recorded as the price approached the key resistance level of $2,850.
- Given the current market sentiment, Ethereum (ETH) appears to be on the verge of a potential 37% upside rally.
Amid the shift in market sentiment, Ethereum (ETH) accumulation appears to have skyrocketed, as hundreds of millions worth of ETH have moved out of exchanges. On July 10, 2025, Bitcoin (BTC) reached a new high, which has now opened the path for an altcoin rally.
Whales now seem to have their eyes on Ethereum, the second-largest cryptocurrency, as it has remained stagnant for the past two years.
Are Ethereum (ETH) Whales on a Buying Spree?
Recently, the blockchain-based transaction tracker Whale Alert shared multiple posts on X (formerly Twitter), revealing that millions of dollars worth of ETH have been transferred from exchanges to an unknown wallet.
As per the latest report, two large transactions, 24,999 ETH worth $69.37 million and 27,672 ETH worth $77.07 million, were transferred from Binance and Coinbase to an unknown wallet.
Not only that, but on July 9, 2025, two large transactions, likely belonging to the same crypto whale, received a total of 38,000 ETH worth $101 million in two separate transfers.
This substantial amount of ETH was moved from Robinhood, indicating potential accumulation by the whale, as also reported by Whale Alert.
Current Price Momentum, Time to Buy Ethereum (ETH)?
In the crypto landscape, such notable transfers from exchanges to wallets are seen as potential accumulation. With the rising Ethereum price, it appears to be an ideal buying opportunity.
At press time, Ethereum (ETH) was trading near $2,817, having recorded a price surge of over 6.10% in the past 24 hours. During the same period, investor and trader participation also skyrocketed. It led to a 60% increase in trading volume compared to the previous day.
The rising trading volume, along with the asset’s price increase, indicates strong upside momentum. It further suggests a sustainable gain that could help ETH continue its upward trajectory.
Ethereum (ETH) Technical Analysis and Price Prediction
According to expert technical analysis, Ethereum (ETH) appears bullish and is on the verge of a massive upside rally. With the recent 6.10% price surge, ETH has reached one of its strongest resistance levels near $2,850, a level with a history of price reversals.
Based on recent price action and historical patterns, if the ongoing momentum continues and ETH breaks above the $2,850 level, it could soar by 37% and potentially reach the $4,000 mark.
On the other hand, if market sentiment shifts and Ethereum fails to maintain its upward momentum, falling below the $2,850 resistance, there is a strong possibility of a price reversal, potentially repeating its historical pattern.
Technical Analysis: 200-Day EMA and RSI Insights
With the notable upside momentum, Ethereum’s Relative Strength Index (RSI) stands at 67. It’s indicating that while the asset is nearing overbought territory, it still has enough room to continue its upward momentum before reaching extreme levels.
Additionally, strong performance, Ethereum (ETH) has shown in recent days, has pushed its price above the 200-day Exponential Moving Average (EMA) on the daily timeframe. That confirms the top altcoin is currently in an uptrend.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
