Ethereum has been stable above $4,400 after a weekend spike. The rally, supported by strong institutional demand and broader market optimism, has been tempered over the past two days as prices drop and test lower levels. Despite the pullback, ETH is one of the most closely watched assets on the market, with the Bulls and Bears looking at the next decisive move.
The analysts are split. Some argue that ETH has the ability to maintain signal resilience of more than $4,400 and potential setup for another rally to $5,000. However, others see warning signs of buying fatigue, and when market emotions change, they raise deeper concerns for correction.
In addition to the plot, blockchain analytics firm LookonChain has revealed that Ethereum’s largest corporate holder, Bitmine, had purchased 4,871 ETH, 21.28m $21.28m just 12 hours ago. This brings the total Bitmine holding to an astonishing level, reaffirming the narrative of large-scale institutional accumulation.
The combination of powerful whale activity, increased institutional demand and short-term volatile price fluctuations highlights the pivotal moments facing Ethereum. Whether ETH penetrates high into unknown territory or succumbs to correctional pressure is a critical factor in the wider Altcoin market.
Ethereum whales accumulation strengthens bullish prospects
According to Lookonchain, Bitmine currently holds 1,718,770 ETH of $7.65 billion, making it one of Ethereum’s largest corporate holders. This accumulation trend has become a critical feature of the current market cycle, with other companies such as Sharplink Gaming and Bit Digital also expanding their ETH positions. Such a large institutional purchase enhances the bullish, continuing narrative and highlights Ethereum as the leading altcoin for long-term growth.
Beyond accumulation, US macro conditions and legal clarity play an important role in the Ethereum outlook. A clearer regulatory environment attracts more institutions. This sees ETH as well as a key player in decentralized finance, as well as an asset with increased legitimacy. This change in emotions is to raise expectations for Ethereum in the coming months.
At the same time, the fluidity dynamics are tightened. Exchanges report a decline in ETH balance, while OTC desks such as WinterMute highlight a faster-paced decline in reserves. This suggests that supply is increasingly absorbed by institutions and long-term holders, with fewer coins available in the open market.
The combination of institutional demand, clarity of regulations, and reduced supply creates a strong background for Ethereum. While short-term volatility can last, the underlying foundation points to markets prepared for continuance to new milestones.
Weekly Chart Signal Strength
Ethereum’s weekly chart shows that the assets are in the middle of a critical test after a surge to a new high of over $4,800. Following that rally, ETH has traveled sharply, now trading around $4,422, reflecting a volatile but healthy correction after weeks of sudden profits. Despite this drop, the chart still shows ETH, which maintains a wider bullish structure.
The 50-week moving average (blue line) bends upwards, indicating updated momentum after months of consolidation earlier this year. Meanwhile, the 100-week (green) and 200-week (red) moving averages are well below current prices, enhancing ETH still on a strong macro-up trend. This retracement appears to find support around the breakout zone between $4,200-$4,400.
The most notable takeaway was how ETH was freed from the long integration between 2022 and early 2025, struggling with prices under $3,000. That multi-year resistance zone is now reflected in strong support, suggesting that Ethereum may maintain a higher level in the coming months.
Dall-E special images, TradingView chart
