The second-largest cryptocurrency gained almost 9% in September, a notable achievement given that the month has historically been one of its weakest periods.
Now, many analysts and market observers think that Ethereum is on the verge of a major breakout, while recent whale activity and strong institutional demand support the bullish view.
Lots of Optimism
As of this writing, ETH is worth just over $2,700, with a market capitalization of almost $330 billion. X user Gerla claimed that the asset’s price chart has started looking “dangerous” for the bears and outlined $2,650-$2,900 as the key zone.
“Clear that, and I’m expecting ETH to accelerate hard. The bigger target stays $4,800-$5,200. This doesn’t look like a trend I want to fade,” he added.
Altcoin Sherpa noted that the asset has been consolidating over the past several days, interpreting the price action as a sign that a major breakout may be on the way.
Ted also commented on the lack of serious volatility lately, arguing that buyers should step in and push ETH above $2,800 for another leg up. Otherwise, he believes the chances of a sharp correction will go up.
For his part, Ali Martinez revealed that Ethereum whales have accumulated roughly 60,000 units (worth around $162 million) over the past week. Before that, large investors scooped up more than 320,000 coins again in seven days.
A common theory is that whales have inside information the rest of us don’t, and their buying spree can spark broader enthusiasm, prompting retail investors to pour fresh capital into the ecosystem. Their purchases also reduce the available supply on the market, which can support additional price growth.
Another positive factor is the growing institutional appetite. Cumulative total net inflows into spot ETH ETFs have surged to almost $14 billion, with nearly $700 million attracted last week.
Meanwhile, the actions of a certain mysterious trader hint that the asset may indeed be gearing up for a rally. As CryptoPotato reported, the whale opened a $99 long position in ETH with 25x leverage. Even more remarkably, the trader has completed 3,156 trades to date, maintaining a stunning 100% win rate.
The Mega Bets
Arthur Hayes, the former CEO of the now-defunct crypto exchange BitMEX, also weighed in. He predicted that ETH could skyrocket to a new all-time high of $10,000 by the end of the year, arguing that it remains the most secure layer-1 network despite increased competition from rival blockchains.
MikybullCrypto was even more optimistic. They expect a “mega breakout” that could send it toward $7,000, followed by an ascent to $14,000 as the bull run potentially intensifies.
The post Top Ethereum (ETH) Price Predictions as Whales Keep Buying appeared first on CryptoPotato.
Source: https://cryptopotato.com/top-ethereum-eth-price-predictions-as-whales-keep-buying/
