Whales Are Buying More ETH! Ethereum Price Prediction Is Looking More Bullish
2025-05-07
Ethereum’s price action is starting to look increasingly bullish as new on-chain and derivatives data points to growing interest from long-term holders and traders ahead of the upcoming Pectra upgrade.
Over the past two months, Ethereum whales have increased their holdings by over 22%, showing conviction despite market uncertainty.
Read More: Understanding the Ethereum Blockchain
Key Takeaways
- Long-term ETH holders added over 3.5M ETH since March, increasing holdings from 15.5M to 19M ETH.
- Ethereum is trading in a tightening range, with Bollinger Bands contracting and RSI staying neutral.
- Derivatives and options volume have surged, with long positions outpacing shorts on Binance and OKX.
- The May 7 Pectra upgrade is drawing investor interest with new staking and throughput improvements.
- Analysts eye $1,950 as a potential breakout level in the short term.
Ethereum Whales Accumulate as Price Falls
According to CryptoQuant, long-term holders—wallets that steadily accumulate ETH without selling—have increased their holdings by 22.54% between March 10 and May 3. These wallets bought through the dip, lowering their cost basis from $2,026 to $1,980 while ETH traded below both levels.
This steady accumulation indicates structural confidence, not speculative buying. These addresses, which typically hold ETH for more than 155 days, have shown little interest in short-term profit-taking.
Their behavior is signaling expectations of an upward move, possibly tied to fundamental changes in the Ethereum network.
Read more about Ethereum (ETH):
ETH to USD: Convert Ethereum to US Dollar
Ethereum (ETH), Market Cap, Price Today & Chart History
Technicals Point to Breakout Potential
Source: TradingView
Ethereum is currently consolidating between $1,783 and $1,831, with price action showing signs of compression. Bollinger Bands are tightening, suggesting that a volatility spike could occur soon. RSI is hovering around 54.6, indicating neutral momentum, while volume has been steadily increasing since mid-April.
The 20-day moving average at $1,739 continues to serve as a key support. Analysts like @Thecryptomist believe ETH may break out from its current range, with $1,950 acting as the next programmed level if momentum builds.
ETH Derivatives Market Shows Bullish Positioning
Source: Coinglass
Ethereum’s derivatives market is heating up. Total volume rose over 26% to $46.3 billion, while open interest also rose to $21.9 billion. Most notable was a 75% jump in options volume—a sign that traders are positioning themselves for increased volatility.
On Binance, the long-to-short ratio stood at 2.24, and on OKX at 2.04, showing strong directional bias toward longs. Among top traders on Binance, that ratio is even higher at 2.76. These metrics suggest that sentiment is skewing bullish ahead of key developments.
Ethereum Pectra Upgrade on May 7
The upcoming Pectra upgrade is another driver for bullish momentum. The upgrade will raise the validator staking limit from 32 ETH to 2,048 ETH, a major shift that could reduce node count and improve capital efficiency. It also introduces more data blobs per block, enhancing throughput for rollups and L2 solutions.
This technical change coincides with Ethereum’s growing relevance in real-world asset tokenization and institutional interest. Some market watchers, like analyst @TedPillows, equate buying ETH now to buying Bitcoin at $4,000—hinting at major upside potential.
FAQs
Why are Ethereum whales buying more ETH now?
Ethereum whales have increased their holdings by over 22% in recent months, signaling strong long-term conviction and anticipation of future price appreciation.
What is the Pectra upgrade?
The Pectra upgrade, set for May 7, will raise staking limits and improve scalability through increased data blobs per block.
Is Ethereum expected to break out soon?
Technical indicators, including Bollinger Bands and growing volume, suggest that Ethereum may break above resistance near $1,950 in the short term.
Disclaimer: The content of this article does not constitute financial or investment advice.
