- Ethereum has risen 3.87% in 24 hours to $2,624, up over 12% this week.
- Price rebound aligns with long-term triangle support; resistance lies around $4,000 per AZYK Charts.
- Wallets holding 100–100,000 ETH have cost bases below $2,225, now mostly sitting on profits.
Ethereum has jumped 3.87% in the past day, pushing its price to $2,624, and over the past week, it has gained more than 12%. These moves reflect a clear rebound, marked by renewed interest as Ethereum holds above a long-standing support level.
According to AZYK Charts, the cryptocurrency is staging a recovery after touching the lower end of a major symmetrical triangle that has formed over several years. This pattern dates back to early 2021, when Ethereum broke through $1,000 and began tracing a rising support line. That trendline has remained strong despite market pullbacks, including a recent dip to around $1,800.
ETH quickly bounced back from that level. The top boundary of the triangle, formed by a descending line from the all-time high near $4,800, currently hovers between $3,600 and $4,000.
AZYK Charts stated, “$ETH recently touched the bottom support and bounced, suggesting that buyers are stepping in. If this continues, price could rise toward the top of the triangle, around $4,000+.” This bounce from support has helped ignite upward momentum, suggesting increased demand as it approaches the pattern’s upper range.
Ethereum Realized Price Signals Strength
Beyond technical patterns, data from Cryptoquant contributor BlitzzTrading adds depth to the outlook. Ethereum is now trading above several key “realized price” levels—the average price various investor groups paid for their ETH.
This includes Wallets holding between 100 and 1,000 ETH have an average purchase price of $2,225. Those with 1,000 to 10,000 ETH average $2,196, while wallets holding 10,000 to 100,000 ETH have an average cost of $1,994. Even the largest holders, with more than 100,000 ETH, average a cost of just $1,222.
This means that the majority of these investors are now sitting on profits, which could act as support in case of pullbacks. Realized price is calculated using the last on-chain transaction price of the coins, helping traders understand which groups might start selling or holding based on profitability.
However, not all signs point straight up. When Ethereum reached $4,000 in the past, whales—wallets with over 10,000 ETH—began selling, which triggered a correction down to $1,300. This type of profit-taking from large holders has the power to drag the market down due to the volume they control.
Whale Behavior Could Decide the Next Move
BlitzzTrading also highlighted that these large investors are again in a profitable zone, with Ethereum currently trading above their cost basis. Whether they hold or sell in the coming days could shape Ethereum’s next leg. A move past $4,000 may require continued buying pressure not just from retail traders, but also a pause in whale sell-offs.
Traders are now focusing on two crucial levels: support near $1,800 and resistance close to $4,000. If Ethereum holds its current course and breaks above the triangle’s top, a new rally could begin.
If it fails to break that resistance or falls below support, caution may return. Until then, Ethereum’s bounce and positioning above realized prices suggest a bullish mood—but one that’s closely watching what the whales do next.
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