Ether Analysts See ‘upward Breakout’ As ETH Price Returns To $3k

Ether rebounded 16% to reclaim $3,000 as whales accumulate heavily, exchange supply hits nine-year lows and network activity surges.

Ether’s (ETH) price reclaimed the $3,000 level on Monday, a 16% rebound from the $2,620 multimonth low reached on Nov. 21. Market analysts pointed to key data metrics that suggest that ETH is “building up for breakout” to higher highs.

Ether whales accumulated aggressively over the last six months.

Robust network activity, Ethereum scaling upgrades in January are tailwinds for ETH.

Traders expect ETH to rally to all-time highs once the barrier at $4,000 is broken.

Ether whales remained confident about the prospects of a further rally, using the recent pullback to accumulate more tokens.

Data from CryptoQuant shows a growing divergence between retail-size wallets and large investors.

Related: ETH nears $3K after cool CPI print but $553M Ether ETF outflow raises alarm

Whale wallets with a balance of 10,000-100,000 ETH hold over 22 million tokens, after rapid accumulation over the last six months.

Meanwhile, retail and mid-size investors have been net sellers, with their holdings on the decline since 2024. This points to redistribution rather than speculative inflows into these wallets.

Source: CoinTelegraph