Ether (ETH) rose by 7% over the last day, reclaiming its 50-week moving average (MA) near $3,300, a development that has historically resulted in significant price surges.
Key takeaways:
Ethereum may have located a support level around $2,800, indicating a potential local bottom.
Ether’s price previously surged by 100% after reclaiming the 50-week moving average.
Recently, Ethereum whales have accumulated nearly 1 million ETH over a three-week period.
Historical breakouts led to 97%-147% ETH price rallies
Data from Cointelegraph Markets Pro and TradingView indicates that the ETH/USD pair rebounded from $2,800 support, climbing 20% to the present value of $3,362.
This breakout has allowed Ether’s price to reclaim an important trendline—the 50-week exponential moving average (EMA)—heightening the probability of a more pronounced increase in the forthcoming days or weeks.
Related: Ethereum ‘smart’ whales open $426M long bets as ETH price chart targets $4K
Past occurrences reveal that ETH generally experiences sharp increases when the price closes above the 50-week EMA (purple wave). The altcoin recorded gains of 147% between October 2023 and March 2024, and 97% in Q3 2025.
“$ETH is back above its 50-day MA. I would love to see a break above the 200-day MA at $3,500 in the coming days with the bulls flipping this area as support,” stated investor StockTrader_Max in a Tuesday post on X, adding:
“Once flipped to support, the ATH’s at $5,000 become the next target!”
Analyst CyrilXBT mentioned that the “50-week MA is now a crucial line to maintain” to enhance the prospects of a move toward the $4,000 level.
As Cointelegraph reported, ETH price has concluded its five-month downtrend against Bitcoin, projecting a 170% gain to 0.09 BTC in less than two months.
Ethereum whale accumulation bullish for ETH price
Ether’s bullish momentum on Wednesday was preceded by heightened accumulation by large investors.
“Ethereum is a leading gainer today, increasing +8.5% and observing a positive accumulation trend from whales and sharks,” commented market intelligence firm Santiment on Tuesday.
The related chart illustrates that these investors have accumulated approximately 934,240 ETH, valued at $3.15 billion at current rates, over the past three weeks, while smaller holders sold 1,041 ETH in the past week.
“Ethereum surges back to $3,400 with an ideal setup of whale and shark accumulation, but retailers are offloading.”
Additional data from CryptoQuant reveals that whale wallets with 10,000 to 100,000 ETH have attained record balances, while wallets holding over 100,000 ETH have also increased their reserves, indicating a positive sentiment among larger groups and institutions.
The renewed interest from whales coincides with a rise in demand for spot Ethereum ETF flows, which noted $177 million in inflows on Tuesday, the highest since October 28, according to data from SoSoValue.
The ETH Coinbase Premium Index, which measures interest from US investors, has remained positive over the past week after being negative for about a month. This indicates a resurgence in interest from US investors, potentially driving ETH prices higher.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
