TL;DR
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Whales accumulated 110,000 ETH during the recent dip, signaling a possible price revival.
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Despite the market crash, many analysts remain optimistic, with some envisioning a new ATH for ETH in the following months.
Is It Finally Time for a Pump?
The cryptocurrency sector has witnessed a severe decline in the past few days, with its total market capitalization plummeting below $2.8 trillion. Bitcoin (BTC) is down approximately 19% weekly, while its biggest rival, Ethereum (ETH), has charted even more substantial losses.
The price of the latter briefly tanked below $2,100. Currently, it trades at around $2,150 (per CoinGecko’s data), representing a 22% drop on a seven-day basis.
According to two essential elements, though, the correction might soon be replaced by a resurgence. The popular X user Ali Martinez revealed that whales had purchased 110,000 ETH during the dip. The stash equals almost $240 million (calculated at ongoing rates).
Such developments reduce the circulating supply of the asset, potentially making it more valuable in time (assuming demand doesn’t head south). Additionally, the actions of the large investors might be mimicked by smaller players who could inject fresh capital into the ecosystem.
Ethereum’s Relative Strength Index (RSI) is the second factor worth mentioning. The technical analysis tool, which measures the speed and change of price movements, has plunged well below the bullish mark of 30.
Currently, it stands at approximately 22, suggesting that ETH might be oversold and due for a possible rebound. Conversely, readings above 70 indicate that the asset could be poised for a pullback.
Price Predictions
Despite ETH’s poor performance as of late, numerous market observers remain optimistic that the asset could experience a bull run.
The X user Captain Faibik envisioned a rally to as high as $12,000 by the beginning of 2026, seeing the current conditions as a perfect buying opportunity.
Earlier this month, Crypto Beast also chipped in. They told their over 650,000 followers on X that “the next massive pump” could be incoming. However, the analyst believes the bull run might only last up to six months.
“You have to pay close attention because it will only last 4 to 6 months. Bitcoin, ETH, SOL, and many alts will explode. I will tell you exactly when to take profits. You’ll regret not following,” they stated.
It is important to note that ETH’s price was well above $2,700 at the time of the prediction.
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