A new $100M ETH whale emerged as large holders increased positions by 14% in five months.
Ethereum’s price has been moving sideways in recent weeks, but as per Tom Lee’s Fundstrat, this could be the setup for a major ETH price rally.
The company released an analysis highlighting the Wyckoff principle, which shows that long consolidation periods often lead to powerful breakouts once resistance is cleared.
Recently, Ethereum may be repeating a pattern seen in past cycles, where an extended base led to massive gains. If this setup materializes, Fundstrat predicts Ethereum will rally by 54 times.
Ethereum price has cooled off in the last 10 days, but the broader structure still looks bullish. Tom Lee’s Fundstrat shared a chart that highlights the Wyckoff principle: “The bigger the base, the bigger the breakout.”
This means that long periods of consolidation often lead to stronger price rallies once resistance is cleared.
Looking back, Ethereum established a base around $90 in 2018-2020 before experiencing a 54-fold increase to $4,866 in late 2021.
Now, ETH price has been consolidating again in a wide range with a low near $1,385. If history repeats, another 54x move from this base could project Ethereum toward $75,000 in the next cycle.
The chart suggests that potential energy is building as ETH holds within its multi-year range. Each retest of support has been met with higher demand, and the current breakout attempt is forming.
A clean move above resistance could confirm the next leg higher.
While short-term cooling is standard after sharp rallies, the bigger picture remains constructive. Long consolidations provide stronger setups, and Ethereum’s current structure is aligned with that.
If the Wyckoff framework plays out, ETH price may be setting up for one of its most extensive breakouts yet.
In a new funding round, Ethereum-focused advocacy company Etherealize raised $40 million to be used to promote Ethereum to Wall Street investors. According to a press release, venture firms Electric Capital and Paradigm led the funding round.
This comes as public companies scrambled to add over $1.2 billion worth of Ether to their treasuries this week.
Etherealize launched in January with support from the Ethereum Foundation and Ethereum co-founder Vitalik Buterin. Its goal was to educate institutions about the blockchain and the ETH with the aim of ensuring it gains traction similar to Bitcoin.
According to on-chain data, a new whale appeared after buying $100 million worth of ETH. This contributed to a broader trend of whale accumulation that has been occurring across Ethereum in recent times, suggesting a likely ETH price rally ahead.
Meanwhile, whales holding between 1,000 and 100,000 ETH tokens increased their holdings by 14% over the past five months, as per insights by Santiment.
During this same period, Ethereum also outperformed Bitcoin. In fact, ETH price delivered gains of 132%, while BTC rose by only 34%.
Ethereum’s outlook is becoming increasingly bullish as whales intensify their accumulation during the recent market correction.
At the same time, experts suggest the second-largest cryptocurrency is preparing for a massive ETH price rally, especially as institutional inflows continue to rise.
Read more on The Coin Republic
