Ethereum is back in the spotlight as a combination of renewed whale accumulation and increased ETF speculation sparks hopes for another price breakout.
After months of sideways price action and bearish sentiment, ETH has reclaimed the $1,750 mark. Market participants are now asking: Is this the beginning of Ethereum’s next big rally?
Let’s take a look at what’s driving this shift—and where the price of ETH could be headed next.
Whale Activity Resurfaces on Ethereum
According to on-chain tracking platforms like Spot On Chain, multiple Ethereum whales have recently resumed heavy accumulation. Several wallets have been spotted moving large sums of ETH from centralized exchanges into self-custody, typically a bullish signal.
On April 23, one whale bought over 19,000 ETH — fueling speculation that institutional players may be positioning ahead of a market shift.
This move coincides with Ethereum supply on exchanges hitting its lowest level since 2018, further reducing available selling pressure.
ETF Buzz Grows Louder
Adding to the bullish sentiment is renewed speculation around a potential Ethereum spot ETF approval in the U.S. While no official green light has been given yet, comments from SEC insiders and recent ETH futures-based ETF performance have reignited interest.
Last week, Bloomberg ETF analyst James Seyffart hinted that Ethereum’s case is “strengthening” following the approval of multiple Bitcoin-related products earlier this year.
“We believe Ethereum will be next in line, though timing remains unclear,” Seyffart wrote in a recent update.
If approved, an ETH spot ETF would likely bring in significant institutional inflows, similar to what we’ve seen with Bitcoin.
Ethereum Price Analysis: Will $2,000 Hold?
After briefly dipping below $1,600 in early April, Ethereum has rebounded sharply. As of April 24, 2025, ETH is trading around $1,755, showing a ~10% gain in the past week.
Source: Trandingview
Key levels to watch now:
- $1,800 – short-term resistance
- $2,000 – major psychological barrier and previous support
- $2,200–2,400 – target zone if momentum continues
Volume has also ticked up in recent sessions, suggesting stronger conviction behind the move.
Final Thoughts: Can Ethereum Rally from Here?
Ethereum’s fundamentals remain strong—especially with Layer 2 growth, continued developer activity, and now Vitalik Buterin’s long-term RISC-V proposal adding new excitement.
If ETF momentum continues and whales keep accumulating, ETH could realistically target the $2,200–$2,400 range in the short term. For long-term holders, a confirmed breakout above $2,000 would signal a potential return to bullish structure.
Still, macro risks and regulatory uncertainty remain. As always, investors should stay informed and avoid emotional trading.
