"Ethereum Is the 2021 bullish pattern repeating? ... Large whales are accumulating ETH."
CryptoBullet stated that Ethereum’s recent weekly candles have closed above a key resistance level for the second time, which he sees as a bullish momentum signal. He predicts that Ethereum may drop to $3,700 this week but expects it to quickly recover and continue its strong upward trend.
Additionally, another analyst, Titan of Crypto, pointed out that Ethereum has recorded its highest weekly candle close since 2021. Based on this, he believes that a new all-time high (ATH) of $4,878 is possible.
On-chain analysis platform Santiment also shared on X that "There are currently 104 whale wallets holding over 100,000 ETH. These wallets hold 57.35% of the total ETH supply ($333.1 billion), which is the highest level ever. In contrast, the percentage of wallets holding between 100 and 100,000 ETH has dropped to its lowest level in history at 33.4%. The proportion of wallets holding less than 100 ETH is also at its lowest level in four years. The continued accumulation by large whales is a long-term bullish signal."
