Cryptocurrency market, Bitcoin on Sunday morning 
$79,504It experienced an extraordinary surge in buying, with ‘s reaching a new all-time high above $80,000. Bull market movement, Ethereum, the largest cryptocurrency 
$3,192It quickly spread to the altcoin market as it remained above $3,000. Based on whale accumulation, Ethereum price is targeting the current all-time high of $4,981.
Ethereum Price Targets ATH, Whale Buying Continues
According to press, Ethereum price was trading at $3,228, recording a daily increase of 3.2%. According to Coingecko, the asset market cap stands at $389.4 billion and 24-hour trading volume stood at $42.1 billion.
The cryptocurrency market started with bull market momentum that gained momentum in November following Donald Trump’s victory in the 2024 presidential election. Leading digital asset Bitcoin reached a new high of $80,000 today, riding on overall market sentiment.
Whales are accumulating not only Bitcoin, but also Ethereum! Today, 4 new wallets withdrew 12,499 ETH (approximately $40 million) from Binance.
ETH Price Increase Completes Major Correction Trend
Following the Bitcoin rally, Ethereum price predictions showed a six-day recovery, recording a 36% increase from $2,380 to $3,220. This sharp rise was supported by increased trading volume, allowing ETH to break out clearly from the 3-month accumulation and falling notch chart pattern.
Since late May, this chart pattern has led to a steady corrective trend within two converging trend lines. The latest breakout marks a significant change in trend. Ether buyers regained the daily EMAs (20, 50, 100 and 200), further strengthening the bullish sentiment in the market.
If the pattern is confirmed, Ethereum price is expected to surpass the resistance level between $3,560 and $4,100 and register a 26% increase with a peak of $4,100. If it breaks above this level, a rise towards ATH may be triggered.
In contrast, financial assets are unlikely to sustain a one-way move without exogenous bull news. As a result, Ethereum price is expected to undergo a corrective pullback towards the daily EMAs to regain tired bullish momentum.
The Ethereum price’s progress towards ATH levels creates a positive atmosphere in the market with the resumption of whale purchases. Investors carefully monitor the movements of major investors, looking for clues about future market movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
