Summary
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Whale Accumulation Signals Potential Ethereum Rally: Large Ether holders (whales) are accumulating ETH, suggesting anticipation of a price increase; however, for this rally to gain momentum, ETH needs to surpass the $2,200 mark to re-establish its “macro range.”
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Market Downtrend and Reversal Points: Ether’s price has significantly dropped, and analysts indicate reclaiming the $2,200 level is crucial for reversing the current downtrend, particularly amidst global economic pressures expected to last until early April.
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Long-Term Optimism Persists Despite Short-Term Volatility: Despite current market pressures and price fluctuations, long-term projections for Ether in 2025 remain optimistic, with firms like VanEck predicting substantial price increases for both ETH and BTC.
Large-scale investors, often referred to as whales, have begun accumulating Ether since the beginning of March, suggesting they anticipate an upcoming rally for the cryptocurrency.
For Ether to regain upward momentum, it is crucial to overcome the $2,200 price point and re-establish its broader “macro range,” particularly given that global macroeconomic uncertainties are expected to weigh on the crypto market until at least the start of April.
$2,200 Threshold Vital for Upside Momentum
Currently trading at $2,059, Ether’s price has plummeted by over 51% in the last three months of a downward trend.
This decline followed a peak value exceeding $4,100, achieved on December 16, 2024, according to data from TradingView.
To reverse this ongoing bearish trend, prominent crypto analyst Rekt Capital indicated on X (formerly Twitter) on March 19th that Ether must reclaim its “macro range” above $2,200.
He elaborated, suggesting that a robust price response at the current level could enable ETH to re-enter the 2,196−3,900 “macro range.”
In a parallel development, open interest in Ether derivatives has reached a new record high as of March 21.
This increase has fueled optimism among investors, as it indicates that major traders may be strategically positioning themselves for a potential rally beyond the $2,400 mark.
However, despite positive regulatory signals in the crypto space, such as the U.S. SEC withdrawing its lawsuit against Ripple, Ether has yet to demonstrate considerable upward movement.
Analysts Expect Macroeconomic Pressure Until April
Market analysts anticipate that global trade tensions will continue to exert pressure on both traditional and crypto markets until at least early April, a period when resolutions to current tariff disputes might emerge.
In related news, a trader reportedly achieved a $480,000 profit from a 1,500x leveraged trade just before a BNB meme coin’s value crashed by 50%.
Interestingly, despite the general market sentiment sometimes blaming whales for market downturns, research analyst Nicolai Sondergaard from Nansen offers a different perspective.
He posits that these large holders are simply active participants reacting to market dynamics in all directions.
Speaking on Cointelegraph’s Chainreaction X show on March 21st, Sondergaard pointed out that “ETH whales holding between 10,000 and 100,000 ETH are actually accumulating, while the majority are selling.”
Wallet Data Shows Increase in Large ETH Holders
Data from Glassnode corroborates this observation, revealing a rise in the number of addresses holding at least $100,000 worth of Ether.
This metric has climbed from just over 70,000 addresses on March 10 to exceed 75,000 by March 22. In contrast, a significantly higher figure of over 146,000 wallets held balances exceeding $100,000 in ETH on December 8th, when Ether’s price was trading above $4,000.
Looking forward, and despite potential short-term price swings, long-term investor confidence in Ether appears strong for the remainder of 2025.
Asset management firm VanEck has projected a cycle peak for Ether at $6,000 and for Bitcoin at $180,000 during 2025, indicating substantial future growth expectations in the cryptocurrency space.
Also Read: Fidelity Introduces Ethereum-Based ‘OnChain’ Shares for Money Market Fund
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