Amid the chances of a bullish crypto market comeback, Ethereum aims to reclaim the $3,000 mark. Driving the bullish hopes, Whales and ETF take the stage. Will this boost drive the ETH price higher to the $3,700 mark?
By Vishal Dixit
Edited by Julia Sakovich
Updated
3 mins read
Ethereum ETH $1 937 24h volatility: 4.8% Market cap: $233.13 B Vol. 24h: $13.96 B has been on a declining trend over the past few months, while Bitcoin BTC $84 637 24h volatility: 5.0% Market cap: $1.67 T Vol. 24h: $27.58 B continues to resonate near the $100,000 mark. Amid the declining trend, the BTC dominance in the crypto market continues to surge.
Since the start of 2025, the Bitcoin dominance in the market has increased by 5.84%, while the BTC dominance peaked at 64.34% during the recent market crash. Amid the growing BTC dominance, Ethereum is struggling to mark its place in the industry. However, the recent low price rejection and strong fundamentals are likely to propel Ethereum as the institutional demand grows.
In a recent tweet by Ted Pillows, a well-known crypto investor, highlights no major changes for Ethereum. Highlighting the projecting optimism of ETH, Ted Pillows anticipates a bullish trend continuation in Ethereum.
By sharing a weekly price chart of an intact support trend line, the chart depicts an ascending triangle pattern. The overhead ceiling of the pattern coincides with the $4000 psychological zone.
Furthermore, Pillows highlights a recent institutional purchase from BlackRock worth more than $250. As the market anticipates institutional support to reflect an Ethereum price action, Pillows expects the Ethereum bull cycle to cross the $10,000 mark.
Amid the recent market volatility, the balance by holding of Ethereum has seen a major shift. The whale holding has seen a major shift.
From the peak of $379.36 billion during the market crash, the whale holding dropped to $285.81 billion. However, as the market stabilizes, the whales have increased their holding to $313.5 billion.
This accounts for an explosive surge in the past three days and highlights the possibility of an uptrend continuation. Apart from the whales, the holding between $1 million and $10 million has increased from $27.41 billion to $29.6 billion since the market crash.
Hence, the big players are starting to grab more Ethereum as the market stabilizes, hinting at a potential bull rally.
Over the past two days, Ethereum has maintained its recovery trend. With a 2% surge on Wednesday, Ethereum continues the uptrend with an intraday surge of 1.45%.
Currently, ETH trades at a market price of $2,828. However, the uptrend fails to overcome the recent bearish entrapment candle of 5.26% formed on February 4.
Hence, the overall bearish influence remains significant, threatening a potential downfall for Ethereum. Furthermore, the recent bullish failures in ETH price have set an intense bearish tone.
Hence, a post-retest reversal from $2,913 could likely test the $2,600 mark. On a positive note, the bullish comeback in ETH prices crossing the $3,000 milestone will be a key entry point for price action traders.
This will likely test the local resistance trendline near $3,200 followed by the next resistance level at $3,700.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
