Ethereum has confirmed a significant bullish pattern with its weekly Ichimoku Golden Cross formation, historically a precursor to sustained upward price momentum. ETH currently trades near $2,631 as major investors position for potential gains.
Mega whales have expanded their ETH holdings by 9.31% since October 2024, now controlling over 41 million ETH. Accumulation at this scale has previously signaled substantial price rallies, reinforcing market confidence in Ethereum’s trajectory.
Institutional interest further bolsters the bullish case, with Ethereum ETFs recording $1.17 billion in net inflows during June 2025. Industry analysts anticipate accelerated institutional participation through the second half of the year.
The $2,500–$2,536 price range serves as critical technical support, underpinned by approximately 3.45 million ETH held at this cost basis. This consolidation zone reinforces the asset’s upward potential.
Converging technical indicators—including the Golden Cross and whale accumulation patterns—suggest Ethereum could target new highs between $3,100 and $3,834. Market observers highlight this alignment of fundamentals and technicals as exceptionally supportive for ETH’s mid-term valuation.