Ethereum is now hovering around $2,560 (see updated price here), and optimism is building fast. A single whale just bought 48,825 ETH for $127 million, averaging $2,605 per token. This happened during a brief dip in price, reinforcing confidence in Ethereum’s longer-term strength.
That same wallet is believed to have banked $30 million from previous Ethereum trades, proving this wasn’t a random move. As over 242,000 ETH options expired and the put-call ratio stayed at 1.20, signs of stability are returning, and some expect a major breakout soon.
Analyst Ted Pillows is watching closely. He notes four consecutive green candles on Ethereum’s two-week chart a pattern that looks a lot like Bitcoin’s setup just before the 2020 bull market. His forecast? Ethereum may break above $10,000 by year-end.
MerlijnTrader supports the idea, calling Ethereum the next major opportunity for anyone who missed Bitcoin’s rally. With prices fluctuating between $2,400 and $2,750, many believe ETH is simply charging up for its next big run.
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