Ethereum price has begun to show renewed accumulation signals across charts and on-chain data. There are a few factors, the alignment of which resulted in this positive development for the leading altcoin.
In this article, we will delve into each of these factors and how they are together contributing to the shaping up of this very crucial phase for Ethereum price.
The ETH price was around $3,875 at the time of writing, up 1.26% in the past 24 hours but still down 1.53% on the week and 7.35% over the past month.
ETH Price and Wyckoff Test Context
Analysts pointed to a re-accumulation pattern from the Wyckoff method. They said the current phase resembled a “test” of support within a broader base.
The Wyckoff approach described how large participants accumulated during quiet ranges. They often built positions while volatility fell and attention stayed low.
In this read, the ETH price traded in a narrow band near $3,700–$3,900. Traders said that compression created fuel for a directional move.
The “test” in Wyckoff terms followed a shakeout and probed demand at support. It checked whether sellers still controlled the market after an earlier flush.
If buyers absorbed supply on that pullback, a markup often followed. That sequence aligned with prior cycle behavior in multi-week consolidations.
Observers compared this structure with Ethereum’s earlier basing phases. They noted similar stair-step recoveries after prolonged ranges.
The ETH price, in their view, needed confirmation through range expansion. Rising participation and stronger closes would signal that demand outweighed supply.
This framework remained descriptive rather than predictive. Traders used it to map how accumulation sometimes unfolded before advances.
Ethereum (ETH) Price Gets Support From Whale Flows
On-chain data showed a large wallet withdrew about 8,500 ETH from OKX. The wallet split the movement into two transactions roughly an hour apart.
Large holders often shifted tokens off exchanges when they accumulated. Those custody moves reduced immediate sell supply on order books.
Withdrawals to self-custody did not guarantee higher prices. They still signaled that some investors preferred holding over near-term selling.
Other large wallets sold near the high-$3,700s and realized losses. That action showed mixed positioning and tempered one-sided conclusions.
Even with mixed flows, exchange outflows improved the supply backdrop. Reduced inventory on venues lowered the risk of sudden market sells.
The ETH price found buyers on dips into the $3,700 area. That zone acted as a working floor during the week.
Historical patterns showed a link between net outflows and bullish phases. When exchange supply thinned, rallies often gained traction as demand persisted.
Participants noted that ETF demand also supported the supply picture. Net creations funneled capital into the asset through regulated vehicles.
Staking participation continued to lock a portion of circulating ETH. Lower free float reduced the amount available to trade on exchanges.
Following the Merge, net issuance trended low on a sustained basis. That supply profile kept circulating growth constrained relative to prior cycles.
Institutional desks cited tokenization pilots and infrastructure upgrades. Those developments helped sustain interest, even during periods of rangebound price action.
The ETH price therefore sat at the junction of tighter float and steady demand. That mix set up a higher sensitivity to incremental buy pressure.
What Could Confirm the Next Leg For Ethereum Price
Analysts tracked a potential triple bottom between $3,700 and $3,800 on intraday charts. A triple bottom occurred when price tested the same area three times and held.
They also flagged a break of structure, or BOS, after a higher high. They described a change of character, or CHoCH, as the first sign of trend repair.
These concepts aimed to codify how trends shifted from down to up. Traders watched for higher highs and higher lows to confirm that shift.
A decisive push and daily close above $4,000 would validate the base. That level would mark a transition from accumulation to an advance.
Volume behavior mattered for confirmation in this framework. Expanding participation on upswings strengthened confidence in the breakout signal.
Breadth across major pairs offered another cross-check. Broad-based strength often supported the durability of a move in the leader.
Institutional participation added a structural tailwind, according to recent research. Firms pointed to ETF inflows, consistent staking, and low net issuance.
Those factors tightened liquid supply and cushioned downside pressure. They also amplified upside moves when bids absorbed remaining sell orders.
Technically, the ETH price needed to keep making higher lows above $3,700. That pattern would maintain the base and support a follow-through attempt.
Failure to hold that area would weaken the triple-bottom read. The range would reset, and traders would reassess support lower in the band.
For now, the ETH price remained rangebound but better supported than earlier in the month. The confluence of Wyckoff signals and whale flows improved the setup.
A confirmed close above $4,000 would complete the near-term checklist. That print would align structure, flows, and supply conditions into November.
