- Whale buys 1,425 ETH for $3.8M at $2,670 after selling 2,522 ETH last month at $1,570, per Lookonchain.
- IntoTheBlock reports 75% of Ethereum holders kept assets over a year, with 67% currently in profit.
- Ethereum breaks above mid Bollinger Band, with resistance at $3,472. Weekly volume hits 135.15K ETH, boosting bullish momentum.
Ethereum has had a strong rebound from early 2025 lows, gaining by 65.70% over the past month to trade at $2,687.36. This sharp recovery follows a major downturn that pushed ETH toward the $1,500 zone.
There has been increased whale accumulation and renewed on-chain activity as Ethereum attempts a trend reversal. A large investor recently re-entered the market, spending $3.8 million to repurchase 1,425 ETH at $2,670, according to Lookonchain.
This activity followed their earlier sale of 2,522 ETH at $1,570 just a month ago. Such moves have coincided with rising transaction volumes and higher investor confidence in Ethereum’s short term potential.
Large Transactions and Long-Term Holders
According to IntoTheBlock, there are a growing number of long-term Ethereum holders. About 75% of holders have held ETH for over one year, while 67% are currently in profit. Another 5% are at break-even, leaving 29% out of profit.
Meanwhile, 56% of ETH is held by large holders, suggesting ongoing institutional or whale involvement. The seven day large transaction volume is at $48.28 billion with an outflow of $366.48 million. These figures suggest increased investor movement and strong accumulation patterns across wallets.
Further, Onchain Lens reported that an Ethereum ICO participant deposited 1,050.5 ETH worth $2.74 million into Kraken. This participant received over 10,000 ETH during the initial coin offering and still retains 7,261 ETH worth $19.1 million, spread across multiple wallets. The timing of this deposit aligns with the broader bullish momentum observed in recent weeks.
Technical Indicators Suggest Key Resistance Ahead
Ethereum has moved above the middle Bollinger Band, now at $2,349.96. This mid range level now acts as support. The upper Bollinger Band is at $3,472.17, indicating the immediate resistance zone.
If this momentum holds, the price may test this upper boundary in the short term. Weekly volume is at 135.15K ETH, supporting the strength of the recent rally. The Accumulation/Distribution line has also continued rising since 2023, currently at 58.49 million.
Ethereum has broken past its 20 week moving average after forming higher lows since the $1,500 bottom. This recovery suggests a potential trend reversal as the digital asset sustains upward movement with renewed volume. According to analyst Rose, Ethereum is bouncing from its trendline support and could test targets of $2,853, $3,023, and $3,222.
Bitcoin Correlation Strengthens Broader Market Sentiment
Ethereum maintains a strong correlation of 0.94 with Bitcoin, suggesting that ETH’s movement is closely tied to broader market movements. As Bitcoin continues its rally, Ethereum’s price may respond similarly. This correlation, combined with consistent accumulation, could drive the price to new highs if current conditions remain stable.
On the upside, Ethereum could trade between $3,200 and $3,500 if accumulation and volume continue to build. However, ETH may drop toward $1,800 to $2,000 if the $2,350–$2,400 support fails to hold.
Ethereum’s recent gains, whale accumulation, and strong technical signals suggest continued recovery. Long term holders remain confident, while key resistance levels are now in focus as the month of June nears.
