Ethereum whales add $1B in ETH – does the rallying trend point to a $5K ETH price?

Ethereum's native token Ether (ETH) currently ranks as the only cryptocurrency in the top 10 by market capitalization to show a negative return over the past 30 days.

The altcoin is desperate for a major boost as sentiment drops to new lows every week, and onchain data suggests it may be late.

Ethereum addresses add 330,000 Ether in 2 weeks

Crypto market analyst MAXPAIN highlighted that Ether addresses, which hold between 1,000 and 10,000 ETH, have accumulated 330,000 ETH since January 7, worth more than $1.08 billion.

Previously, such an accumulation of ETH occurred in April 2024, when the same set of addresses accumulated more than 620,000 ETH. The altcoin has seen a 66% gain since then.

Adding to the crypto trader's daily active addresses, the network growth has risen to 180,000, which may indicate a new influx of capital.

On the contrary, Percival, a certified onchain analyst at CryptoQuant, shed light on the key differences between ETH spot market transactions in 2021, 2024 and 2025. The analyst explained that ETH trading volume will decrease from $52 billion in January 2021 to $8 billion in 2025. An amazing 84% discount. The businessman added:

“This means that demand for Ethereum is very low in this bull market.”

So, while whales have added ETH to their wallets, retail interest has taken a hit during this bull run.

Related: Ethereum ETF issuers expect staking to be greenlit soon: Joe Lubin

Will a reversal head and shoulders pattern send ETH to $5,000?

With most of the market recovering from Ether's underperformance last month, many traders saw the current market setup as an opportunity.

Gel, a long-term crypto investor, identified the formation of another bullish head and shoulders pattern with ascending triangles on the weekly chart.

As the analyst hinted at possible price discovery for the altcoin, the possibility of a bullish breakout would improve significantly.

In fact, Alec, a derivative trader, said that Ether was developing a tight hold on both the 30-minute low time frame (LTF) and the 1-day high time frame (HTF). With liquidity on both sides, the trader;

“Big moves are on the horizon for ETH. Take the liquid and run the opposite way? But which way??

Finally, Cold Blood Shiller, a market analyst, commented on the negative nature of the industry at the moment on Ethereum.

“$5k $ETH by March, and this will be the saltiest place on Earth.”

While $5,000 is an achievable target for Ether, the immediate barrier remains at the $4,100 level. Since 2024, Ethereum has managed to break above the descending trend line on two separate occasions, but the high resistance at $4,100 has not been breached.

Therefore, in order to target Ethereum 5,000 dollars, the immediate situation is to flip the support of 4,100 dollars on the daily and weekly chart. Once the price action is accepted above the mentioned level, Ether can rally towards $5,000, but until then, the altcoin should still rally on the upside.

Related: Ethereum Foundation Internal Conflict and Falling DApp Volumes Put Cloud on ETH Price

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.