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Key Highlights:
- SharpLink Gaming bought 190,467 ETH ($478.42M) in total.
- Whale 0x1fc7 now holds 5,089 ETH ($12.66M) staked.
- SharpLink and whale purchases highlight the $ETH accumulation trend.
Ethereum price continues to hover in a narrow range, signaling broader market consolidation across the crypto landscape. ETH price recently encountered strong resistance between $2,600 and $2,900, triggering notable selling pressure.
This sideways movement reflects investor caution and a lack of strong bullish momentum amid low volatility conditions in the market.
Ethereum Price Surge Anticipated as Institutions and Whales Intensify Accumulation
According to Lookonchain, institutional players and crypto whales continue accumulating Ethereum in significant quantities. SharpLink Gaming, a known investor in Ethereum, has returned to the market.
The firm acquired 188,478 $ETH for approximately $473.6 Million at $2,513 per token. In a fresh over-the-counter deal executed five hours ago, SharpLink secured an additional 1,989 $ETH. It spent around $4.82 Million.
In a separate transaction, whale address 0x1fc7 made another substantial move. The address had acquired and staked 3,201 $ETH worth roughly $8.1 Million just a week ago.
In a follow-up move, the same whale purchased another 1,888 $ETH for about $4.56 Million. Also, it staked the newly acquired tokens one hour ago. These acquisitions indicate that there is still bullishness among major market players.
ETH is attracting significant attention from institutional investors and large-scale buyers. This growing interest may strongly influence the Ethereum price over time.
Ethereum Accumulation Addresses Hit ATH
Ethereum accumulation has reached an all-time high, according to on-chain data from CryptoQuant. Recent figures show a sharp and consistent rise in the balance held by accumulation addresses.
This trend suggests increased investor confidence and strong holding behavior despite price volatility. The chart reveals that long-term holders steadily increased their holdings as the ETH price fluctuated.
Such a steady increase in accumulation can point to future Ethereum price increases or network improvements. Increasing on-chain indicators on Ethereum can be considered a bullish factor for the crypto market.
Ethereum Price Stuck in Range, Breakout Coming Soon?
Ethereum continues to trade sideways, unable to move past the $2,500 resistance level. Earlier efforts to push the ETH price higher have failed to gain momentum.
On June 28, 2025, the Ethereum price traded at $2,427, registering a minor 0.23% decline over the past 24 hours. The larger setup on the 4-hour chart indicates weak momentum with price trading in a tight range of $2,300 to $2,500.
Over the last few weeks, this area has also been a massive support and resistance point. Bulls had previously guarded the $2,300 point at the beginning of the month, initiating a rebound. There is, however, weak follow-through.
The MACD line has been below the signaling line and has created a bearish crossover on the verge of the neutral area. Momentum is dying, and the histogram is also ending up in a downward trend.
On the other hand, the Chaikin Money Flow (CMF) is barely above zero at 0.07. This suggests some build-up, though the intensity does not lend itself credibly.
The continued inflow on the upside, staying above the zero line, suggests ongoing bullish momentum. This could lay the groundwork for Ethereum’s next upward move.
Looking ahead, the ETH price must decisively reclaim the $2,500 resistance level to regain bullish momentum.
A confirmed breakout above $2,500 would expose the $2,800 level as the next technical target. Beyond that, a potential retest of $3,000 could follow if broader market sentiment turns risk-on.
A decline below the support levels of $2,300 would be negative as it would negate the current consolidation pattern. Such would be the need to increase the possibility of a decline to a lower level than before, to support at $2,200.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
