Ethereum Whale Activity Rises as ETH Price Gains 7%, What’s Next?

Ethereum ETH $2 417 24h volatility: 7.5% Market cap: $291.95 B Vol. 24h: $28.49 B has rebounded sharply from Sunday’s low of $2,131, now trading at $2,409 with a 7% daily gain.

The second-largest cryptocurrency has also seen an 18% jump in its 24-hour trading volume, which currently stands at $28 billion.

The uptick coincides with a major whale activity. Data from LookonChain revealed that on Tuesday morning, a whale, potentially linked to ConsenSys, acquired 3,704 ETH worth around $8.91 million via Galaxy Digital’s over-the-counter (OTC) desk.

The whale/institution (probably linked to ConsenSys) bought another 3,704 $ETH($8.91M) through Galaxy Digital OTC ~20 mins ago.

They have bought a total of 161,112 $ETH(422M) through Galaxy Digital OTC in the past 3 weeks. https://t.co/cW8EvzSFxt pic.twitter.com/7K7o4EOXNu

— Lookonchain (@lookonchain) June 24, 2025

It is interesting to note that the same entity has accumulated 161,112 ETH valued at over $422 million over the last three weeks through Galaxy Digital OTC.

ETH Price Outlook

At the time of writing, Ether is trading around $2,409 with a market cap of $290.86 billion.

On the daily ETH price chart, the RSI has bounced from near-oversold territory to around 48. This suggests a neutral-to-bullish sentiment and if RSI moves further upwards, it may confirm building strength.

Bollinger Bands show that ETH is now approaching the midline (20-day SMA), indicating a recovery from oversold conditions. A sustained close above the upper band around $2,800 could trigger a move toward the highly-anticipated $3,000.

Meanwhile, the MACD is still in the bearish region with the MACD line below the signal line, but the gap is narrowing. This hints at a potential bullish crossover in coming sessions. However, in the short-term, ETH must hold the $2,350 support to prevent another pullback toward $2,100.

While ETH faces volatility in the short-term, analysts are expressing optimism in the long-term. Popular analyst Mister Crypto stated on X that ETH appears to be consolidating within a five-year pattern and is likely to break out soon. He urged investors to remain patient.

$ETH will break out of this 5-year long consolidation pattern.

You just need patience! pic.twitter.com/APDrrmyENI

— Mister Crypto (@misterrcrypto) June 24, 2025

Another prominent trader, Christiaan, echoed the sentiment, predicting a price move beyond $3,000 in the mid-term, a 25% gain from current levels.

$ETH is ready for $3000+, don’t be sidelined! pic.twitter.com/r2xwCQxyHq

— Christiaan (@ChristiaanDefi) June 24, 2025

Notably, Ethereum is currently 50% below its all-time high of $4,891 from November 2021.

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