Ethereum Whale Accumulation, A Signal for Breaking $2,550?

▲ Ethereum (ETH) whale ©

As Ethereum whales accumulated $322 million worth of ETH in just four days, the market's attention is once again focused on whether it will break through $2,550.

According to Finbold, a cryptocurrency media outlet, on May 3 (local time), on-chain data shows that large Ethereum (ETH) investors purchased over 140,000 ETH in the past 96 hours. According to cryptocurrency analyst Ali Martinez, citing Santiment data, the value of this volume amounts to approximately $322 million.

The Ethereum balance held by whales increased from approximately 13.83 million ETH at the beginning of the period to about 13.98 million ETH as of May 3. At the same time, Ethereum was trading at $2,333, up approximately 1% in 24 hours. Aggressive accumulation by large investors is typically interpreted as a signal that appears during a sideways consolidation period before a price increase.

Finbold asked ChatGPT for future forecasts based on whale accumulation, the current technical structure, and the overall trend of the cryptocurrency market. ChatGPT predicted that Ethereum is more likely to move upwards than downwards in the next 1-3 months.

The probabilities for each forecast were presented as follows: a 60% chance for Ethereum to rise to the $2,700-$3,000 range, a 25% chance to remain in the $2,200-$2,500 box range, and a 15% chance to fall deeper below $2,000. In particular, the purchase of 140,000 ETH in four days is analyzed to be consistent with aggressive accumulation patterns seen before strong upward trends in the past.

Technically, $2,550 was identified as the most crucial breakout level. If this resistance line is firmly surpassed, additional buying pressure could lead to a short-term rise to around $2,800. If the current trend continues, it is projected to reach approximately $2,650 by late May 2026, and up to $3,200 by mid-2026 in a bullish scenario. However, if the overall market weakens, the lower support line is suggested to be $1,900.

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