Ethereum Price Reclaims $3,200 as Shark Wallets Accelerate Accumulation

Ethereum price jumped 5% in the past 24 hours, regaining the $3,200 level. This surge comes as the market reacts positively to the upcoming Fusaka upgrade. 

In general, the crypto market has been up 2% in the past week, and whale investors are accumulating more Ethereum, which is a positive sign.

Ethereum’s Latest Upgrade, Fusaka, is Now Live!

Ethereum has released the second major upgrade of the year called Fusaka. The update greatly increases the scalability and minimizes transaction cost with a feature known as PeerDAS. PeerDAS allows the validators to process smaller packets of information, called data segments, instead of processing large blobs. This modification enhances the efficiency of the Ethereum network, which makes the transactions more affordable and quicker to users.

The Fusaka upgrade gives Ethereum a step closer to what it expects to achieve in the long term with respect to scalability, and also improves the overall performance of the network.

With this upgrade, Ethereum strives to make its operations more efficient and provide a more affordable experience to both developers and users. ETH community is also eager about the prospects of this upgrade, which is one more step towards a more solid and sustainable blockchain.

Ethereum Price Surges as Shark Wallets Ramp Up Accumulation

Ethereum has climbed back to $3,215, driven by strong accumulation from shark wallets holding 1,000 to 10,000 ETH. The wallets have been instrumental in Ethereum price movement in 2025. Also, Ethereum has experienced an explosion in the network, as 190,000 new wallets were added to the network in one day.

The recent change of price is based on a time of severe accumulation, especially in the price dips of November. In mid-November and December, Shark wallets earned over 450,000 ETH. This is indicative of increased optimism regarding the future performance of Ethereum. On the other hand, a gigantic sell-off was experienced on October 5-10, as 1.3 million ETH were sold into the market.

With Ethereum still on the upward trend, market observers are keen to see what the market has in store. There is a significant growth in the wallet activity, which indicates high investor confidence. As Ethereum demonstrates a tendency of long-term growth, it will be intriguing to learn whether this tendency will persist.

Can Ether Price Break $3,500 in the Coming Days?

ETH price has experienced a 5% surge over the past 24 hours, rising to $3,198. This increase underscores how Ethereum remains on a positive trend as it moves to overcome resistance levels.

Ethereum price has been steadily increasing with a clean upwards trend in the recent days after hitting a support zone of $3,000.

The price is currently moving within an ascending channel, and the next targets are between $3,300 and $3,500 as Ethereum long-range prediction Indicates Bullish Potential.

The Relative Strength Index (RSI) of Ethereum has increased to 71, which indicates that Ethereum is over-bought.

On the up side, the Chaikin Money Flow (CMF) indicator is 0.09, which proves purchasing pressure which is still strong and contributes to the further increase.

However, any retracement could see ETH revisiting the $3,000 support, which has held strong so far.