- ETH Breaks Wedge, RSI Confirms Bullish Turn
- Whales Move Millions as Price Eyes $2K Mark
- 1.11M ETH Added to Long-Term Holding Wallets
Ethereum (ETH) is showing strong technical behavior after breaking out of a multi-month falling wedge pattern. The Relative Strength Index (RSI) confirmed the move with a clean breakout, suggesting a shift toward bullish momentum. A similar setup in the past led to Ethereum doubling in value within weeks.
Whale Moves and Market Structure Indicate Growing Activity
According to data from Lookonchain shared on April 25, 2025, a prominent whale purchased 8,012 ETH, valued at approximately $14.25 million. The transaction occurred at $1,779 per ETH, alongside a debt repayment. The whale reportedly gained $159,000 through ETH trading over a 10-day period.
Simultaneously, Ali via X stated that over 63,000 ETH were sold by whales within the last 48 hours. This behavior shows a mix of strategic buying and profit-taking among large holders. Binance data also revealed that ETH/USDT trading volume rose by 12% in the last 24 hours, indicating increased market participation.
On-chain wallet activity also remains elevated. From April 17 to 23, over 1.11 million ETH were added to accumulation addresses. These are wallets that have only received ETH and have never sent it out, which often signals long-term holding behavior.
Technical Indicators and On-Chain Metrics Confirm Uptrend
According to an analysis prepared by Merlijn The Trader, Ethereum is trading near $1,760 while testing resistance around $1,800. The price has broken out of a falling wedge pattern that started forming in early 2025.
This type of breakout often leads to continued upward price movement. The RSI moved above 58, confirming bullish momentum. IntoTheBlock data shows that 62% of ETH holders are in profit, which can reduce near-term selling pressure.
Ethereum’s daily active addresses increased by 8% from April 23 to April 25, suggesting rising demand and usage. If Ethereum sustains current momentum and breaks the $1,800–$1,820 resistance zone, the next targets are $1,880 and $2,000.
