Massive ETH Outflows from Kraken Hint at Whale Accumulation and Price Surge

• Ethereum whales withdrew $870M from Kraken, signaling strong accumulation that leads to major price movements.
• Stochastic RSI flashed a rare bullish signal, historically marking major ETH rallies, hinting at potential upward momentum.
• Ethereum’s price action aligns with exchange outflows, reinforcing its bullish market structure despite short-term volatility.

Ethereum market dynamics are shifting since exchange withdrawals walk hand in hand with a fundamental bullish sign, Crypto Rover states. Over 400,000 ETH, equivalent to $870 million, recently left Kraken, showing whale accumulation. Historically, massive outflows have preceded important price action.

Major Outflows Indicate Whale Accumulation

Ethereum’s Kraken netflow data indicates large withdrawals, especially before major price drops. Notably, Ethereum’s price fluctuated between $2,050 and $2,550, where there was an abrupt spike on March 3 followed by a correction. The data indicates that spikes in more than 100K ETH outflows were observed before major price action.

Red markers on the exchange netflow chart signify heavy outflows, particularly near March 7. These withdrawals suggest accumulation by large investors. Although minor inflows are present, their magnitude is relatively smaller. The price is now trending around $2,160, reflecting a lower movement after peaking near $2,550.

Ethereum’s price correlates with netflow changes, demonstrating market reactions to large withdrawals. Consequently, analysts are monitoring whether this accumulation signals a future rally or continued consolidation. Moreover, exchange activity remains a key factor in Ethereum’s price trajectory.

Stochastic RSI Crosses Bullish Threshold

Besides whale accumulation, Ethereum’s Stochastic RSI just flashed a rare bullish signal. Historically, this indicator has marked every major Ethereum rally in the last five years. The crossover suggests a potential upward price movement if historical patterns hold.

The weekly Ethereum price chart shows a sustained uptrend, supported by a long-term trendline. Ethereum has repeatedly tested this support, reinforcing its market structure. Moreover, the price has now surpassed previous resistance levels, confirming a new trend high.

Each Stochastic RSI crossover from oversold levels has preceded a market recovery. Consequently, traders view this as a strong buying opportunity. While Ethereum remains volatile, the underlying trend supports long-term growth.