Ethereum (ETH) has extended its recovery, reclaiming critical support and advancing under renewed buying pressure. Market attention has now shifted to a key technical resistance level that is expected to determine whether the current rally continues or stalls. At the same time, large holders have expanded their ETH positions, adding a flow-based backdrop to the price move rather than leaving the rally to technicals alone.

At the time of writing, ETH was trading at $2,443.79, with a 24-hour trading volume of $17.11 million and a market capitalization of $294.76 billion, according to data from CoinMarketCap. The token gained 1.34% over the last 24 hours, and its price structure alongside whale accumulation points toward a bullish reversal ahead.

Breakout Scenario Points Toward $8,500

Crypto analyst JAVON MARK noted that the Ethereum price has extended its recovery after reclaiming a crucial post-breakout support zone, gaining approximately 55% from that level. The move reflects renewed buying pressure and suggests that bulls are attempting to build a stronger upward structure. Attention is now turning to the next major resistance, where Ethereum could face its most important technical test (Source: JAVON MARK's X post).

The level in question is located at $4,811.71 and represents an accurate resistance level for the Ethereum price. A strong move past this resistance would enhance bullish optimism and could push Ethereum toward the $8,500 level. Conversely, the asset needs to maintain its strength above the resistance in order to continue rising.

Whales Accumulate $121 Million in ETH

Data from Lookonchain shows that Ethereum whales have stepped up accumulation activity lately, pulling millions of dollars in ETH out of Binance across multiple accounts (Source: Lookonchain's X post).

Wallet address 0x2d59 has just withdrawn another 30,000 ETH, worth a total of $67.42 million. This brings its three-week withdrawal total to 120,000 ETH, valued at $237.7 million.

Further whale activity supports the accumulation narrative. Abraxas Capital withdrew 18,000 ETH valued at $39.56 million, while a newly created wallet, 0x2261, pulled 6,704 ETH worth $14 million from Binance. In total, these recent transactions amount to more than 54,700 ETH valued at $121 million.

What Comes Next for Ethereum?

The Ethereum price's next step is contingent upon whether it can break out above the $4,811 level. A breakout would boost upside momentum, with the $8,500 level coming into sight. A breakdown, on the other hand, would bring about consolidation or further sell-off action. Ongoing whale buying and continued outflows from exchanges may offer additional support, but the immediate focus remains on whether ETH can clear the resistance that has become the market's main checkpoint.

This article contains market analysis and price predictions, which are not guarantees. Crypto markets are volatile; always do your own research. This is not financial advice.