Ethereum climbed past $2,400 following a $8.9 million whale accumulation, marking an 18% increase in its 24-hour trading volume.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
Ethereum ETH $2 445 24h volatility: 3.8% Market cap: $295.11 B Vol. 24h: $22.42 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.
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.
ETH price chart with RSI and Bollinger Bands | Source: Trading View
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.
ETH price chart with MACD | Source: Trading View
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.
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.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.