• Ethereum whales accumulated 470,000 ETH last week, signaling strong investor confidence.
• Staking addresses increased by 6.22% in 90 days, reflecting steady network growth.
• Long-term ETH holders grew by 2.58%, while short-term traders declined by 12.45%.

Ethereum price has experienced significant price fluctuations over recent months. Initially, ETH declined from above $2,600 to lows around $1,800 before stabilizing near $2,000. As of March 25, 2025, Ethereum is trading at approximately $2,058.59.

The 24-hour change shows a marginal decline of 0.3%, while the 7-day and 14-day changes indicate short-term recoveries of 8.6% and 9.2%, respectively. However, the 30-day change reflects a significant monthly loss of 26.1%.

During the prolonged consolidation phase from March 2024 to March 2025, Ethereum’s price moved sideways, forming higher highs and lower lows. This pattern suggests that large investors, often referred to as “whales,” were accumulating ETH at relatively stable prices in anticipation of a major move.

Notably, whale wallets holding between 10,000 and 100,000 ETH saw a sharp reduction in holdings from March 8 to March 11. After March 11, these holdings remained relatively stable, with minor fluctuations. A noticeable increase in whale holdings began after March 18, coinciding with Ethereum’s price recovery. Over the past week, whales have accumulated approximately 470,000 ETH, aligning with Ethereum’s price rebound and indicating that whales may be buying the dip to capitalize on potential future price increases.

Elsewhere, analysts observe that Ethereum is approaching the end of its accumulation phase. The manipulation phase, characterized by a sharp decline below the previous accumulation range, likely triggered stop-loss orders and induced panic selling. This phase is often seen as an orchestrated move by institutional investors to shake out weaker hands before a significant rally.

The expansion phase is projected to commence once Ethereum breaks above the $2,200 mark, signaling strong upward momentum. The projected price movement follows an impulse wave pattern, with higher highs and higher lows, leading to potential price targets of $3,000, $4,000, and eventually $5,500.

According to a separate technical analysis, Ethereum is creating a bull flag pattern, which generally signifies a breakout to $15,000 in the case of an eventual breakout. This pattern contains a formation of uptrend (flagpole), a consolidation (flag) followed by a breakout target. Moreover, staking on the network keep growing on a consistent base, which is also a sign of user adoption and activity.

The number of depositors in staking contract is increasing since early 2021 reaching over 200,000. With the number surging +0.28% in 7 day period and +2.04% growth for 30 day period, it is evident that the network is still growing. Strong staking is shown by a 90 day growth of 6.22% suggesting that Ethereum still has a bullish case.

The recent ownership data further supports Ethereum’s bullish outlook. The number of long term holders (1+ years) has increased by 2.58%. This metric shows that there is buying pressure of ETH, and less selling. However, this trend shows confidence of future price rise.

Mid term investors are holding on to their assets as opposed to selling out as the number of cruisers (1 to 12 months) has slightly decreased by 0.57%. Also, the figure on short-term traders (<1 month) has fallen 12.45%, proving less sell pressure. When short term trading declines, price becomes stable and there is the possibility of long term upward movement.

Ethereum’s price has historically followed an accumulation-to-breakout pattern. The current consolidation, combined with increasing long-term holders, aligns with previous pre-bull run conditions. Secondly, the increasing number of Ethereum addresses also supports the bullish case, as increasing adoption and network activity coincide with the growth.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.