Ethereum (ETH) Price: Whales Return After Year-Long Exit as Bulls Eye $3,000
TLDR
Ethereum printed a rare “monthly demand candle” in May 2025, similar to patterns that preceded major rallies in 2016, 2018, and 2020
Multiple technical indicators are aligning bullishly including Market Cipher momentum wave, VWAP crossing above zero, and whale accumulation returning
ETH price recently broke above $2,750 and is consolidating gains while eyeing the $2,850 resistance level
Ethereum dominance chart shows potential double bottom with first MACD momentum shift in over two years
Monthly RSI at 51 has room to grow before hitting the crucial 70-level that historically marks parabolic moves
Ethereum has been showing several technical developments that analysts believe could signal a major price movement ahead. The cryptocurrency recently printed what technical analysts call a “monthly demand candle” in May 2025.
This type of candlestick formation has historically appeared before significant uptrends. Similar patterns occurred in 2016, 2018, and during the COVID-19 crash in 2020, all preceding multi-month rallies.
Crypto strategist Kevin from Kev_Capital_TA described the current setup as showing “something we’ve never seen before” in terms of confluence across multiple timeframes. The analyst pointed to simultaneous bullish momentum across Ethereum’s USD pair, dominance chart, and ETH/BTC ratio.
Several technical indicators are supporting this bullish outlook. The Market Cipher momentum wave has entered oversold territory and printed a confirmed green dot buy signal. The volume-weighted average price (VWAP) has crossed above the zero line.
Money flow indicators have also started trending upward. These technical signals are occurring together in a way that hasn’t been seen frequently in Ethereum’s history.
Whale Activity Returns
After over a year of whale exits from March 2024 to May 2025, large holder accumulation appears to be returning. Whale money flow indicators show a V-shaped bottom formation with flows now turning upward.
This shift in whale behavior coincides with institutional interest. BlackRock’s involvement in Ethereum markets may be contributing to this renewed large holder activity.
🚨 BREAKING: BlackRock just bought $80.6 MILLION worth of $ETH on June 10.
The world’s largest asset manager is loading up on Ethereum.
If that doesn’t scream conviction — what does? 👀 pic.twitter.com/tiVtj8H8YM
— Crypto Decode (@TheCryptoDecode) June 11, 2025
The monthly RSI currently sits at 51, leaving significant room before reaching the 70-level. Historically, Ethereum has never broken above 70 RSI in the current cycle, suggesting potential for further upside movement.
Ethereum’s stochastic RSI on monthly timeframes has bottomed out and is rebounding sharply. This pattern has historically preceded long-duration uptrends, though confirmation requires crossing the 20-level.
Price Action and Resistance Levels
From a price perspective, Ethereum recently found support near $2,500 before starting a fresh increase. The cryptocurrency cleared resistance levels at $2,600 and $2,650, pushing above $2,750.
Source: TradingView
ETH spiked above $2,800 with a high formed at $2,832. The price is now consolidating gains above the 23.6% Fibonacci retracement level from the $2,483 swing low to the $2,832 high.
Current trading shows Ethereum above $2,750 and the 100-hourly Simple Moving Average. A key bullish trend line is forming with support at $2,750 on hourly charts.
The next resistance levels to watch are $2,820 and $2,850. A clear move above $2,880 resistance could send the price toward $2,920 resistance.
Further upside breaks above $2,920 might lead to moves toward the $3,000 resistance zone or even $3,120 in the near term.
Support levels on any downside moves include $2,750 initially, followed by $2,650 and the 50% Fibonacci retracement level. Major support sits at $2,500.
Ethereum dominance relative to other cryptocurrencies shows a potential double bottom on monthly charts. The MACD momentum indicator has shifted for the first time in over two years, ending a downtrend that lasted two years and one month.
Source: TradingView
The ETH/BTC pair displays similar structural patterns to the dominance chart. Both are showing monthly indicators curling upward from major lows found in 2020.
At press time, ETH traded at $2,739.
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Filed under: News - @ June 11, 2025 8:22 am