Key Notes

• Analysts warn that failure of Ethereum price to reclaim this zone could lead to $2,800.
• Large investors have significantly increased ETH holdings.
• One whale buying $130.7 million worth of Ethereum over three weeks.
  .

Along with

BTC
$88 888

24h volatility:
1.5%

Market cap:
$1.78 T

Vol. 24h:
$37.94 B

, the

ETH
$2 980

24h volatility:
1.8%

Market cap:
$359.90 B

Vol. 24h:
$17.24 B

price has also shown 1.4% gains on December 26 and is eyeing a breakout past $3,000 resistance. Market experts believe that sailing past this would open the gates for its rally to the all-time highs of $4,954. Moreover, the whale accumulation for ETH has accelerated over the past month.

Ethereum Price Needs This Breakout for Further Upside

For the past few days, the Ethereum price has been consolidating under $3,000 after losing the crucial support. Earlier today, ETH bounced back from the $2,900 lows as volatility resumed amid $3.8 billion in ETH options expiring.

Crypto analyst Ted Pillows said Ethereum attempted to break above the $3,000 level but failed to hold the move. He noted that unless ETH successfully reclaims this zone, the price could revisit the $2,800 support level in the near term.

Furthermore, a whale wallet has been aggressively accumulating ETH in large quantities. On Dec. 25, a large investor purchased approximately $16.09 million worth of Ethereum (ETH), as reported by crypto analyst Ted Pillows.

According to the analyst, the same whale has accumulated a total of $130.7 million in ETH over the past three weeks. This clearly shows sustained large-scale buying interest despite recent market volatility.

Crypto analyst Ali Martinez reported that whale investors have purchased approximately 220,000 Ethereum (ETH) over the past week, representing an investment of roughly $660 million.

Another crypto analyst, Javon Marks, said Ethereum price is showing a hidden bullish divergence similar to the setup seen in 2023. This suggests the asset may be on the verge of a strong upside move. According to Marks, such a breakout could push ETH beyond its previous all-time high near $4,954.

He added that a successful move to that level would open the door for a potential rally toward the $8,500 range.

ETH Options Expiry and ETF Outflows

$3.8 billion of spot Ethereum options expired on Dec. 26, stirring market volatility. The max pain point for ETH currently sits at $3,000.

On the other hand, spot Ethereum ETF outflows have continued throughout this week. 2026 will be crucial for the Ethereum price as the blockchain undergoes two major network upgrades.

The roadmap includes the Glamsterdam fork, expected in mid-2026, followed by the Hegota fork later in the year.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Author
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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