Ethereum shows bullish signals with a TD Sequential buy signal and increased whale activity. A whale withdrawal of over $3 million indicates confidence in ETH’s potential. Key indicators show reduced selling pressure and a possibility for price uplift, with critical resistance levels identified.
Ethereum (ETH) currently exhibits bullish momentum, underscored by a recent buy signal from the TD Sequential indicator. In the past 24 hours, ETH has surged by 2.5%, now priced around $1,648, with a market capitalisation of approximately $198.82 billion and a 24-hour trading volume of $10.48 billion. Analyst Ali Martinez notes that the current week might be significant for ETH’s performance.
The increase in whale activity strengthens this bullish perspective. A whale recently withdrew 1,897 ETH, valued at over $3 million, from Bitget, indicating a preference for self-custody and long-term confidence in ETH’s market potential. This specific whale has totalled 3,844 ETH withdrawals worth over $6.51 million since April 3.
Substantial data from CryptoQuant reveals a notable decline in ETH balances on exchanges, now reaching levels unseen since October 2024, which typically suggests diminishing selling pressure and indicates a potential price uplift ahead. Trader Merlijn has noted hints that missing this accumulation phase could lead to significant oversights in 2025, citing bullish indicators and suggesting a forthcoming price surge.
As of the latest data, ETH’s relative strength index (RSI) is at 45.49, signalling recovery from oversold conditions. The price is currently interacting with the middle Bollinger band around $1,632. A breakout above this level and a subsequent test of the upper band at $1,827 would reinforce the bullish momentum. Conversely, failure to maintain above the midline could see support tested at $1,437.
The moving average convergence divergence (MACD) is indicative of bullish trends, showing the MACD line above the signal line, complemented by green histogram bars reflecting mounting bullish momentum. Key resistance levels remain at $1,830 and $2,000, with a significant supply wall at $2,330 that, if breached, may catalyse a new bull rally for Ethereum while tracking global liquidity trends.
