TLDR
- Ethereum price reached a new all-time high at $4,956 before pulling back to $4,770
- Institutional whales accumulated 350,000 ETH worth $1.67 billion during recent rally
- Key support zone identified between $4,592-$4,761 where heavy buying occurred
- Liveliness metric above 0.70 warns of potential short-term correction similar to August
- Bulls need to break $4,948 resistance to target the $5,500 psychological level
Ethereum price today hit a fresh record high above $4,900, peaking at $4,956 before entering consolidation. The world’s second-largest cryptocurrency currently trades at $4,770, representing a 1.1% gain over the past 24 hours.
The latest Ethereum price rally has pushed ETH within 2% of its new all-time high. Three-month gains now exceed 85%, while yearly returns have climbed over 70%.
ETH has outperformed most major altcoins during this bullish phase. Market participants are watching whether Ethereum price will continue toward $5,500 or experience a temporary pullback.
Institutional Whale Activity Drives Ethereum Price Higher
Large Ethereum holders continue accumulating despite prices near record levels. Wallets containing 1 million to 10 million ETH increased their holdings from 7.42 million to 7.63 million ETH since August 19.
This represents 210,000 additional ETH worth approximately $1.0 billion at current Ethereum price levels. Meanwhile, the 10 million to 100 million ETH cohort added 140,000 ETH valued at $668 million.
Combined whale accumulation reached 350,000 ETH worth $1.67 billion over the past week. This buying activity occurred while Ethereum price traded near all-time highs, suggesting strong institutional confidence.
The steady accumulation by major holders provides underlying support for the Ethereum price trend. These institutions typically maintain longer investment horizons compared to retail traders.
Ethereum Price Prediction
On-chain metrics present conflicting signals for Ethereum price direction. The Liveliness indicator has climbed above 0.70, reaching its highest monthly reading.
Higher liveliness values typically indicate long-term holders are moving their coins, often associated with profit-taking behavior. The last time this metric spiked in early August, Ethereum price dropped from $4,748 to $4,077 within days.
However, strong accumulation zones may limit downside risks. The Cost Basis Distribution analysis reveals three key support clusters for Ethereum price.
The $4,592-$4,648 zone contains nearly 866,000 ETH. The $4,648-$4,704 range holds approximately 700,000 ETH. The $4,704-$4,761 area accounts for around 545,000 ETH.
These accumulation layers suggest buyers will absorb selling pressure between $4,590-$4,761. Large holders who accumulated during the rally may continue purchasing on any Ethereum price weakness.
Critical Ethereum Price Levels to Watch
Technical analysis shows Ethereum price recently tested the 0.618 Fibonacci extension at $4,948. This level often provides resistance during uptrends.
A decisive break above $4,948 would open the path toward $5,496, aligning with the $5,500 psychological target. Conversely, failure to hold $4,610 support could trigger moves toward $4,400.
Current Ethereum price action suggests bulls maintain control despite profit-taking signals from on-chain metrics.
