April 19, 2025 – Ethereum prices hit $1,595, experiencing a slight increase of 0.75% during Friday’s trading session. Amidst the US-China trade tensions, broader market sentiment remains uncertain, but ETH purchase pressures could be attributed to whales accumulation. An updated recovery from investors sets the breakout coin price past the current months of revision resistance. Is the $2,000 rally coming near?
Large whale drawers are fueled by bullish hope
Amidst the tariff-driven uncertainty, Ethereum prices predict lateral behavior of around $1,600 for almost two weeks. A series of neutral candles rejected on either side indicates that there is no clear initiation from buyers or sellers.
However, on-chain data shows that some large wallets have actively withdrawn thousands of ETH tokens from top exchanges in recent weeks.
Since April 1, the Metalpha-linked wallet has withdrawn a massive 29,000 ETH, about $48.73 million from Binance.
In addition to bullish momentum, another notable wallet, identified as 0xD81E, has moved 46,577 ETH, worth around $97.26 million from Gate.io since February 15th. Similarly, from March 12th, we extracted 10,091 ETH, where wallet 0x6034 is $18.8 million.
Historically, new accumulation from deep investors has coincided with bottom formation and bullish recovery.
Ethereum Price Test Key Pivot Level
With daytime jumps, Ethereum prices are approaching a bullish breakout from their 20-day index moving average. Since late December 2024, coin prices have attempted several times to violate this resistance, each failing, reinforcing poor trends ranging from 17% to 35%.
Thus, potential retesting is a key pivot moment that indicates a further decline in ETH or a change in market dynamics. If Altcoin witnesses another reversal from the 20-day EMA slope, sellers could push the 18% drop and push the bottom support trendline at $1,250.
ETH/USDT – 1D Chart
On the contrary, this bullish breakout from resistance EMA accelerates bullish momentum for a 20% rally and challenges the resistance trend of falling wedge patterns. Over the past four months, the chart setup has been steadily revised within two convergence trendlines.
A successful flip of the overhead resistor indicates the end of the current correction.
