Whales Accumulate ETH: Analysts Predict Ethereum Price’s Parabolic Move

Ethereum (ETH) price is seeing increased accumulation from large investors, with analysts suggesting that it could be following a pattern similar to last February’s rally. Currently, ETH is out of a bullish falling wedge pattern, and the institutional inflows are increasing, with traders eager to know Ethereum’s next move.

Ethereum Price Breaks Out of Falling Wedge, Eyes $3,000

Ethereum has been in a falling wedge formation and has recently broken to the upside out of the wedge, which is quite a bullish sign. Such a breakout indicates a reversal of the trend, with ETH price currently hovering around $2,692.30.

Market analyst MerlijnTrader pointed out that the price chart of Ethereum looks similar to the parabolic pattern observed in its price increase last February . Based on previous trends, ETH is likely to reach a steep rise in the value in the next few weeks.

Technical Indicators Support Bullish Momentum

The RSI stands at 52.28 which is slightly above the midline. This shows the mild bullish pressure and momentum may increase incase of more buying pressure. Following the MACD, we can see that the MACD line is above the signal line, which is a bullish signal, indicating a rising buying pressure. Also, the histogram has now begun trending up, indicating that the asset could potentially extend recent gains.

Whale Accumulation and Exchange Outflows Signal Confidence

Thus, Santiment reported that an incredible 224,410 Ether were moved out of exchanges in a single day on February 8th and 9th, which is the highest figure in 23 months. This is normally a bullish indication since it suggests that traders have a long-term interest in them instead of trading on exchanges.

Market analyst Ali also noted that the Ethereum-whales with over 10,000 ETH coins increased by 2.30% since February 1. Such a rising accumulation also enhances the bullish position as a large investor keeps on accumulations.

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Additionally, on-chain data indicates that ETH ETFs saw over $400 million in inflows last week, reinforcing institutional confidence in Ethereum’s long-term potential. Analyst TedPillows noted that Ethereum has been holding its uptrend support since May 2023, further validating the positive outlook.

Ethereum Price Road to $4,000 and Beyond

The following are some of the factors that have been observed to be influencing the general bullish trend of Ethereum.

Specifically, newer reports indicate that Donald Trump has been buying ETH, and current indications point also reveals that the current low fees for gas beside, the improvement in usability and scalability is anticipated through the next updates. This is creating debate that Ethereum may reach $ 4000 in the next few months.

Ethereum price likely to rise rapidly if it gets past the $3,000 crucial level according to market analysts as more buyers flow in from the momentum as well as institutional investors .The bullish setup is drawing comparisons to last February’s rally, with many wondering whether history will repeat itself.