Ethereum whale activity at 6-year peak – Is $2,650 ETH’s next stop?

Ethereum’s accumulation wave isn’t just retail-driven – it now has Wall Street behind it!

On-chain data reveals that BlackRock purchased $15.46 million worth of ETH via Coinbase Prime; a rare direct allocation to Ethereum amid a broader surge in accumulator address activity.

Source: CryptoQuant

As highlighted in CryptoQuant’s chart, inflows into long-term holding addresses have exploded to all-time highs, just as ETH price begins to stabilize above $2,500.

ETH: Holding the line

ETH showed resilience just above the $2,500 mark, with price action holding steady near the 200-day EMA and the 50-day EMA at press time.

This convergence zone is acting as a strong support base.

Source: TradingView

ETH has shown resilience despite recent dips, rebounding from intraday lows as buyers step back in. 

At press time, the RSI stood at 48.9—technically neutral but tilting slightly bearish—indicating potential for upward movement if momentum improves.

With whale accumulation and institutional interest gaining traction, a move toward the $2,600–$2,650 range looks achievable, provided ETH holds support above $2,500. 

Conversely, a drop below $2,435 could open the door to further downside risk.