Hovering near the $2,000 mark, Ethereum offers a whale purchase opportunity. Analysts are predicting a potential surge to $3,000 amid an increase in bullish sentiment.
With Bitcoin over $87,000, Ethereum is stagnant near a psychological level of $2,000. ETH trades at a market price of $2,028, marking a 1.12% decline in the last 24 hours.
The short-term pullback reveals a small weakness in the bullish momentum of short-term recovery execution. In such conditions, will Ethereum bounce off the $2,000 mark for a new upward?
Whale loads Ethereum near $2,000
Despite recent integration and general downward pressure, whales are actively accumulating Ethereum. According to a recent tweet from Lookonchain, the newly created whale wallet, 0x114E, has accumulated 7,100 ETH, worth $14.27 million.
Additionally, another wallet, 0xc377, acquired ETKENs of 4,790 people and purchased around $9.5 million worth of Ethereum from Binance. After the purchase, the whales deposited Ethereum on Aave to borrow 8 million USDT.
The whale growth list continues, with wallet 0xc479 pulling around $5.5 million in 2,697 ETH from OKX Exchange. Finally, Wallet 0xcb44 purchased 1,427 ETKEN worth $2.86 million for profit.
Whales are accumulating $eth!
The newly created wallet “0x114e” retracted $7,100 ETH ($14.27m) from #Gemini four hours ago.
0xc377 retracted 4,709$ETH ($9.47m) from #Binance 8 hours ago, deposited it into #aave, then borrowed 8m$usdt from #aave and deposited it into #binance.
– lookonchain (@lookonchain) March 27, 2025
Ethereum ETF cannot record inflows
Despite a sudden surge in demand for whales, institutional investment remains lagging. On March 26th, US Ethereum Spot ETF recorded daily totals Online leak $5.89 billion.
Ethereum etfs
This marks another day of continuous outflows since March 5th, with a net zero inflow of one day on March 24th. Previously, ETFs recorded only one day of influx on March 4, 2024 since February 20th.
Analysts propose ETH price recovery to $3,000
Xforce Global, a certified Korean Elliott Wave analyst, suggests a potential bounce for Ethereum. In a tweet, analysts suggested that Ethereum completed the ABC pattern within the larger integration range.
Using the trend-based Fibonacci extension tool, analysts predict potential price surges based on the three-wave ABC pattern, with price targets ranging from $5,464 to $9,279.
However, even if the amendment is extended, analysts are hoping for a relief rally to $3,116. Therefore, a potential 40-70% meetings are possible in the coming weeks, according to analysts.
$ eth
Sooner or later you will need to retest $3,000.
At a minimum, I expect a good rallies of 40-70% over the next few weeks. A low single sweep is possible in a micro time frame. Even the very bearish scenario of Wave B is seeking a relief rally. pic.twitter.com/miyah4jzudq
– Xforceglobal (@xforceglobal) March 27, 2025
In support of this bullish outlook, CryptoJack points to bullish differences in Ethereum price trends on the weekly chart, indicating potential rebounds from local support trend lines.
$eth’s bullish release! pic.twitter.com/adqkz8qs9j
– Cryptojack (@cryptojack) March 26, 2025
Ethereum futures witnesses bullish emotion spikes
In the derivatives market, the growing interest of traders in Ethereum indicates a potential sharp move. According to data from Coinglass, Ethereum’s public interest increased by 1.38% to $21.8 billion, but the funding rate remains at 0.0051%.
Furthermore, Ethereum’s long ratio chart shows a surge in bullish positions over the past 24 hours. The ratio is 1.0251, a significant increase from 0.9391 in the last 24 hours.
This indicates an increase in bullish sentiment towards ETH, as open interest increases and long-term proportions increase.
