Ethereum’s native token, Ether (ETH), is currently the only cryptocurrency in the top 10 by market cap that has seen a negative return over the past 30 days. As investor sentiment continues to dip each week, the altcoin is in need of a bullish turnaround, but on-chain data indicates that such a revival could be on the horizon sooner rather than later.
Ethereum addresses add 330,000 Ether in two weeks
MAXPAIN, a crypto market analyst, pointed out that Ether addresses holding between 1,000 to 10,000 ETH have accumulated a total of 330,000 ETH since January 7, which is worth over $1.08 billion. This type of large accumulation last happened in April when the same group of addresses added more than 620,000 ETH, leading to a 66% increase in the altcoin’s price. Additionally, he observed a rise in daily active addresses, with network growth reaching 180,000, suggesting a possible influx of fresh capital.
On the other hand, Percival, a verified on-chain analyst from CryptoQuant, highlighted a significant decline in ETH spot market transaction volumes. He pointed out that transactions dropped dramatically from $52 billion in January 2021 to just $8 billion in 2025 — an 84% reduction. This indicates that demand for Ethereum is much lower in this bull market compared to previous years.
So, while big investors (whales) are still accumulating ETH, retail interest has dropped significantly during this bull run.
Could the inverse head-and-shoulders pattern push ETH to $5,000?
After a somewhat disappointing performance from Ether over the past month, many traders are now looking at the current market conditions as a potential opportunity for a bullish rebound. Jelle, a long-term crypto investor, noticed a bullish pattern forming on the weekly chart, which includes an inverse head-and-shoulders pattern and ascending triangles. This combination of signals suggests that the chances for a price breakout are increasing, potentially leading to price discovery for Ether.
Alec, a derivative trader, observed that Ether is showing signs of tightening on both shorter (30-minute) and longer (1-day) time frames. He believes this could indicate a larger price move is coming soon, with liquidity available on both sides of the market.He playfully remarked, “A big move seems to be coming for ETH. Should we take the liquidity and go the other way? But which direction should we go?”
Finally, Cold Blooded Shiller, a well-known markets analyst, expressed his belief that Ethereum could hit $5,000 by March, making waves in the crypto space. However, before that happens, Ether faces a key challenge at the $4,100 level. Although Ethereum has broken above a downward trendline twice since 2024, it hasn’t been able to surpass the resistance at $4,100 yet. If Ethereum can turn $4,100 into a support level, the path to $5,000 could open up. But until then, it’s still facing some resistance and will need to push through some bearish pressure.
Conclusion:
Ethereum’s whale accumulation and the potential for a breakout above key resistance levels could signal a bullish reversal for Ether. However, the market’s current sentiment and lower retail interest could pose challenges in reaching the $5,000 target. Only once Ethereum convincingly clears $4,100 could it aim for the $5,000 mark, making it crucial for investors and traders to monitor the key levels closely.
FAQs:
What is the significance of the whale accumulation?
Whale accumulation often signals confidence in the asset’s future potential, as large investors typically accumulate tokens when they believe a price rally is imminent.
What is the inverse head-and-shoulders pattern?
The inverse head-and-shoulders is a technical chart pattern that suggests a reversal of a downtrend, indicating that prices could move upward after the formation is completed.
What is the target price for ETH?
The immediate target for ETH is $4,100, but with strong bullish momentum, it could aim for $5,000 once the price breaks above the key resistance level.
Why is retail interest important for ETH’s price movement?
Retail interest plays a significant role in driving market momentum. Low retail interest could slow down Ethereum’s price growth, despite whale accumulation.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
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