Ethereum Price Surges 6% as Whales Ramp Up Buying and Bullish Signals Increases

The Ethereum price has surged 6% in the last 24 hours to trade at $4129 on a 108% pump in trading volume to $32 billion.

The surge in ETH price comes as big investors continue buying the dip. On-chain data shows SharpLink Gaming moved $78.3 million worth of ETH, following other large buyers like BitMine. Analysts say this rising accumulation signals a strong belief in Ethereum’s long-term value.

Fundstrat’s Tom Lee says Ethereum is still in a “supercycle,” where strong fundamentals are now pushing the price higher. Stablecoin demand on the network is growing fast, and daily transactions are hitting new records. John Bollinger also pointed out a bullish “W bottom” pattern forming on ETH charts.

Data from Token Terminal adds to the positive outlook, showing that Ethereum is now the main platform for high-value financial activity. Total value locked continues to increase, even as newer experimental projects slow down.

Ethereum Shows Signs of Bullish Reversal Above Key Support

Ethereum has climbed to about $4,203 after bouncing strongly from an important support level. This move suggests that the market could be entering a bullish reversal, especially after a period of sideways trading and price weakness.

Earlier in the year, Ethereum spent months moving inside a bearish channel, where sellers kept pushing the price lower. That trend ended once ETH broke out and turned an old resistance area into new support. After breaking upward, buying pressure increased quickly, lifting the price above $4,500 and close to the key $5,000 level.

In recent weeks, the chart shows Ethereum struggling at the resistance marked as R1. This level stopped the price from moving higher several times, forcing a pause in the rally. Even so, the price never lost its major support zone. That shows buyers are still active and protecting the trend.

ETHUSDT Analysis Source: Tradingview

Technical indicators also support this view. The RSI is near 54, which means there is room for more upside before the market becomes overbought. It also signals improving momentum as buyers slowly take control again.

Traders now expect a possible breakout if Ethereum can move above the $4,500–$4,800 resistance area. If that happens, the price could rise toward $5,000 again, marking a strong continuation of the uptrend.

However, if Ethereum falls below the current support, the price may return to the previous consolidation zone. Even in that case, the chart shows a strong support base that could help prevent a deeper drop.

Ethereum appears ready for a fresh rally if it can break resistance. With strong support below, buyers may soon push the market toward new highs again.