ETH Poised to Reclaim $2.2K Macro Range Amid Rising Whale Activity
Ether (ETH) is showing signs of potentially reclaiming the critical “macro range” above $2,200, driven by increased accumulation from large investors, known as whales. However, global macroeconomic concerns continue to pressure crypto markets, potentially limiting immediate upside.
Key Points:
- ETH price has declined over 51% since its peak above $4,100 in December 2024.
- Analysts highlight the importance of ETH reclaiming the $2,200–$3,900 macro range to reverse the current downtrend.
- Ether futures open interest reached an all-time high on March 21, signaling increased trader interest and potential bullish momentum.
- Whale investors (holding between 10,000 and 100,000 ETH) have been actively accumulating Ether, while smaller investors have been selling.
- Addresses holding at least $100,000 worth of ETH increased from around 70,000 on March 10 to over 75,000 by March 22.
- Despite short-term volatility, analysts remain optimistic, with VanEck predicting a $6,000 ETH price peak in 2025.
Whale Accumulation Driving ETH Momentum
According to Nicolai Sondergaard, a research analyst at Nansen, large ETH holders (whales) have been actively accumulating Ether, contrasting with smaller investors who have been selling. This whale activity is seen as a positive indicator for ETH’s potential price recovery.
Glassnode data confirms this trend, showing a notable increase in the number of addresses holding at least $100,000 worth of ETH since early March.
Macro Range Crucial for ETH Price Recovery
Crypto analyst Rekt Capital emphasized the importance of ETH reclaiming the macro range above $2,200. Successfully regaining this level could signal a reversal from the current bearish trend and open the door for further upside momentum.
However, ongoing global macroeconomic uncertainties, including trade war concerns, may continue to weigh on crypto markets until at least early April.
Investor Optimism Remains for 2025
Despite short-term market pressures, investor sentiment remains positive for the longer term. Investment firm VanEck forecasts a bullish scenario for 2025, predicting Ether could reach a cycle top of $6,000, alongside Bitcoin potentially hitting $180,000.
