TLDR
- Ethereum trades at $4,340 after breaking above descending triangle resistance near $4,283 level
- Whales accumulated 450,000 ETH while small holders distributed over 500,000 ETH in the past week
- Exchange reserves dropped by 260,000 ETH since September start, indicating rising long-term demand
- Technical analysis targets $7,000-$7,500 price range with potential extension to $11,000 in bull market
- Futures markets show record low net taker volume as traders position for potential price decline
Ethereum price prediction shows mixed signals as the cryptocurrency trades above $4,300 following a breakout from descending triangle formation. The world’s second-largest digital asset by market capitalization demonstrates strong whale accumulation patterns despite distribution from smaller investors.
ETH price broke above the critical $4,089-$4,283 resistance range that had contained price action in recent weeks. The cryptocurrency currently trades around $4,340, maintaining support above the key $4,089 level that proved decisive for previous rallies.
Market analyst Yusuf AYHAN maintains his Ethereum price prediction of $7,000-$7,500 for the current cycle. The analyst suggests potential extension to $11,000 if bull market conditions intensify based on historical Fibonacci extension levels.
Large Holder Accumulation Continues Despite Mixed Signals
Ethereum price prediction receives support from whale accumulation data showing large holders with 10,000-100,000 ETH balances increased positions by over 450,000 tokens during the past week. This accumulation trend began in May and continues despite recent market volatility.
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Corporate entities maintain buying pressure with BitMine Immersion adding 202,500 ETH and SharpLink Gaming purchasing 39,500 ETH for treasury holdings. These institutional moves support bullish Ethereum price prediction scenarios for medium-term timeframes.
Exchange reserves declined by 260,000 ETH since September began, typically indicating rising demand as investors transfer tokens to private wallets for long-term storage. Accumulation addresses with no selling history also show steady buying activity.
However, small-scale holders present contrasting behavior. Wallets holding 100-10,000 ETH distributed over 500,000 tokens in the past week while short-term holders who bought within 90 days increased selling activity.
Active addresses and transaction counts declined from previous weeks, suggesting reduced on-chain network activity. This metric often correlates with price consolidation periods before major directional moves.
Ethereum Price Prediction
Ethereum price prediction faces technical resistance at the $4,500 level after breaking above descending triangle boundaries. The cryptocurrency tested this resistance before experiencing rejection, creating a key level to watch for continuation patterns.
ETH futures net taker volume reached record lows, indicating more positions betting on price declines than advances. Futures liquidations totaled $64 million over 24 hours with $31.6 million in long positions and $32.5 million in short positions cleared.
The Relative Strength Index moves horizontally near midline levels while the Stochastic Oscillator trends upward from oversold territory. These indicators suggest mildly bearish momentum in the near term.
Downside Ethereum price prediction targets the $3,500 region if ETH falls below the 50-day Simple Moving Average and the $4,000-$4,100 support zone. The next major resistance sits at $7,000-$7,500 based on Fibonacci extension analysis and previous cycle tops.
