Price Analysis

Ethereum Price Analysis: Whales Buying Amid Correction Hints Bullish Rally to $4k

Ethereum Price Analysis: The wedge pattern formation hints the Ether coin is under a temporary pullback before the next leap.

Published by

Sahil Mahadik

Updated 23 Jun, 2025 | 05:27:25 AM UTC

Ethereum Price Analysis: Whales Buying Amid Correction Hints Bullish Rally to $4k

Highlights

A falling wedge pattern is leading the ETH price correction trend in the daily chart.
The $3280 level coinciding with several technical levels such as 20-day EMA and 23.6% FIB level creates a high supply region for buyers.
The intraday trading volume in Ether is $11.1 Billion, indicating a 3.68% loss.

Ethereum Price Analysis: After the Fourth Bitcoin halving, the Ether price saw increased buying interest at the 38.2% Fibonacci retracement level of $2875. This positive correction positions Ethereum for a potential sustained recovery, amplified by significant whale accumulation. Could this upward trend propel Ethereum to reach $4000 in the upcoming week?

Also Read: Solana, Ethereum, Bitcoin Price Analysis — American Roundup April 23

Falling Wedge and Whales’ Accumulation Signal Bullish Outlook

Ethereum Price| Tradingview

Amid the fourth Bitcoin halving, the ETH price correction recently bottomed at the combined support of 38.2% FIB and $2875. The positive upswing has uplifted the asset by 12.87% in five days to reach the current trading value of $3236.

An analysis of the daily chart shows the Ethereum price is developing a falling wedge pattern— a technical setup often considered a minor correction before a significant rally.

Moreover, the recent on-chain data reveals a marked increase in Ethereum (ETH) accumulation by notable investors, suggesting a bullish sentiment in the cryptocurrency market. A wallet possibly associated with Justin Sun, known as “0x4359,” has been particularly active, withdrawing 4,666 ETH ($14.91M) from Binance and purchasing 132,054 ETH ($420M) since April 8. Another new player, “0x9EB0,” has also withdrawn 7,182 ETH ($23.06M) from Binance within 18 hours.

Additionally, wallet “0x4446” withdrew 11,892 ETH ($37.77M) and engaged in derivatives on Compound by depositing ETH and borrowing USDT, indicating strategic market positioning. Meanwhile, “0x1958” has opted for staking, withdrawing 5,181 ETH ($16.28M), and investing in DeFi platforms Bedrock and Pendle.

Such accumulation despite a correction trend signals the smart money trade expects the continuation of the prevailing rally.

Thus, the ETH price is likely to break the wedge pattern on the upside, bolstering a potential rally to a $4090 high.

Technical Indicator

Relative Strength Index: The daily RSI slope rises to 50% indicating the prior bearish sentiment leaning to neutral.
BB indicator: The downticks in the lower boundary of Bollinger Band reflect are still active towards this asset.

Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by

Sahil Mahadik

Updated 23 Jun, 2025 | 05:27:25 AM

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