Ethereum (ETH-USD) Price Analysis: Bulls Target $2,500 Amid Volatility
Ethereum (ETH-USD) has been navigating a turbulent market, with prices currently sitting around $2,267, reflecting a 2.38% daily gain but a 19.30% decline over the past 30 days. The battle between bullish momentum and bearish pressure is intensifying as ETH approaches the $2,500 resistance level, a crucial point that could determine the next major price movement.
Ethereum (ETH-USD) Faces Key Resistance at $2,500 – Can Bulls Push Higher?
Ethereum has been consolidating between $2,150 and $2,350, with recent accumulation by whales providing strong support near the $2,200 level. According to Glassnode’s Cost Basis Distribution (CBD) metric, nearly 800,000 ETH have been accumulated at this level, signaling a potential floor for Ethereum’s price. However, $2,500 remains the immediate resistance, with multiple rejections at this price level in recent weeks.
Technical indicators paint a mixed picture: The Relative Strength Index (RSI) is hovering near 48, indicating a neutral stance, while the Moving Average Convergence Divergence (MACD) is turning positive, suggesting a shift toward bullish momentum. If Ethereum breaks $2,500, the next key targets are $2,800 and $3,000, but failure to hold above $2,200 could expose ETH to a drop toward $2,000 or lower.
Whale Accumulation and On-Chain Data Suggest Ethereum is Undervalued
Ethereum’s Market Value to Realized Value (MVRV) ratio has dropped below 1.0, historically signaling undervaluation and a potential buying opportunity. CryptoQuant data shows that large investors are accumulating ETH at discounted levels, with whale addresses holding between 1,000 and 10,000 ETH increasing their holdings by over 2 billion tokens in the past week.
Despite the bearish trend over the past month, whale accumulation has historically preceded major price surges, reinforcing the case for a bullish breakout. However, low trading volumes indicate weaker market participation, and if buying pressure does not increase, Ethereum could struggle to maintain gains above $2,300.
Ethereum’s Future Outlook: Bullish Breakout or Further Consolidation?
Looking ahead, Ethereum’s ability to break and hold above $2,500 will determine its next move. If momentum builds, ETH could target $2,800 and $3,000 in the short term, driven by whale accumulation, improving sentiment, and potential institutional inflows. However, failure to break resistance could see Ethereum retesting the $2,200 and $2,000 support zones before making another attempt at higher levels.
For now, Ethereum remains at a critical juncture, and traders should watch trading volumes, whale accumulation trends, and macroeconomic factors like Federal Reserve rate decisions for further direction.
