- Big players are buying billions worth of Ethereum fast, showing strong belief the price is about to make a big move soon.
- Ethereum’s price is stuck in a tight pattern that usually leads to a big jump or drop, but buyers seem to be taking control.
- Companies are pouring huge money into Ethereum, which could push prices higher if this growing interest keeps building up.
Ethereum is witnessing massive accumulation from fresh wallets, raising market excitement as a potential breakout looms.
In the last few hours, wallet 0xdf0A received 16,495 ETH—worth $58.5 million—from Galaxy Digital’s OTC wallet. Since July 9, twelve newly created wallets have scooped up a 808,347 ETH, totaling $2.85 billion.
This rapid inflow has drawn attention across the crypto space, especially as market volatility tightens. Meanwhile, SharpLink Gaming joined the action, buying 14,933 ETH for $52.56 million. Their total ETH holdings now stand at 464,209 ETH, worth $1.63 billion.
This accumulation isn’t random. Analysts suggest a clear technical setup is forming on Ethereum’s price chart. A symmetrical triangle—one of the most closely watched chart patterns—has taken shape. It signals the market is preparing for a major move.
This pattern has been building since April and reflects a battle between buyers and sellers. Prices have bounced between a descending upper trendline and a rising lower trendline, tightening into a triangle.
Triangle Pattern Could Trigger Major Ethereum Move
Such formations typically lead to strong breakouts. However, the direction—upward or downward—depends on momentum, trading volume, and broader sentiment. Currently, Ethereum trades near the triangle’s midpoint. This means both bullish and bearish outcomes remain in play. Yet, given the sustained wallet activity and high accumulation, bulls appear to have the edge.
Source: Gordon
Additionally, long consolidation within such a pattern often fuels explosive moves once resolved. Volume remains the key. A breakout supported by surging volume could propel ETH above its recent highs. Conversely, a dip below the lower support could spark panic selling..
Institutional Interest Adds to Bullish Pressure
Moreover, institutional demand is rising rapidly. The scale of purchases by entities like SharpLink highlights growing confidence. Besides, the OTC transfer from Galaxy Digital suggests strategic positioning ahead of a big market move. This supports a bullish narrative.
Therefore, Ethereum’s next action could determine its direction for the remainder of the year. With solid fundamentals and new liquidity supporting a confirmed breakout from the symmetrical triangle, ETH may rocket over significant resistance levels. But if support is broken, there may be immediate downward pressure.
