Ethereum surged to $2,065 with a 9% weekly gain as whales accumulated $1 billion worth of cryptocurrency in the past week.
By Parth Dubey
Updated
3 mins read
Ethereum ETH $2 079 24h volatility: 0.5% Market cap: $250.69 B Vol. 24h: $12.40 B is trading around $2,065, recording a 9% weekly gain, amid massive whale accumulation. In the past seven days, Ether whales have bought roughly 470,000 Ethereum, worth around $1 billion.
On-chain data from Glassnode reveals that Ethereum whales, holding between 10,000 and 100,000 ETH, have grown their holdings by around 29% in the past two weeks.
The number of addresses holding at least $100,000 worth of ETH has climbed from around 70,000 addresses on March 10 to around 75,000 at the time of writing.
Notably, Ethereum recently retested its multi-year trendline support level – a zone that has only been revisited three times since 2021: June 2022, November 2022, and now March 2025. Historically, this support level has marked the bottom before major rallies.
Popular crypto analyst Rekt Capital predicts that if ETH generates a strong reaction below $2,000, it could reclaim the $2,196–$3,900 macro range.
Ethereum has dropped into this historical demand area (light blue)
If price can generate a strong enough reaction here, then #ETH will be able to reclaim the $2196-$3900 Macro Range (black)
If ETH does this before the March Monthly Close, then this entire sub-$2200… pic.twitter.com/Fj4JYeGcBq
— Rekt Capital (@rektcapital) March 19, 2025
He added that if this recovery occurs before the March monthly close, the entire dip below $2,200 could merely be a fakeout before a stronger upside move.
On Ethereum’s daily chart, price recently approached the mid Bollinger Band (20-day SMA), which serves as a resistance level around $2,100. A breakout above this midline could push ETH toward the upper band near $2,230.
Source: TradingView
Meanwhile, the RSI has climbed to 46, rebounding from oversold territory. The upward trajectory suggests strengthening momentum.
Source: TradingView
Similarly, the MACD line has crossed above the signal line, generating a bullish crossover. Moreover, the green histogram bars indicate increasing buying momentum. If the MACD sustains this motion, it could signal the start of a broader uptrend.
Interestingly, ETH appears to be forming a double-bottom pattern on the daily chart as the price recently bounced off the $1,950–$2,000 support zone twice. If it breaks above the $2,200 resistance, it could confirm the pattern and trigger a rally toward the $2,400–$2,500 range.
Investor sentiment toward Ethereum remains bullish for the long-term. Asset management giant VanEck recently forecasted a $6,000 cycle top for ETH by the end of 2025, citing increased institutional adoption.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
