The Ethereum price has surged 7% in the last 24 hours, trading at $4,160 as of 4:00 a.m. EST, driven by a 173% increase in daily trading volume to $40.8 billion.
ETH’s momentum accelerated after SharpLink, a Nasdaq-listed company, made a fresh acquisition of approximately 19,000 ETH, valued between $78–81 million. This move signifies a resumption of its buying spree after a brief pause and adds to SharpLink’s substantial treasury, which now holds over 270,000 ETH.
🚨 BREAKING:
🇺🇸 SharpLink bought 19,271 $ETH worth $78.3 MILLION 💥
Institutions keep quietly stacking while everyone’s distracted…
Big money is loading up on Ethereum!$ETH / $SBET / $BMNR pic.twitter.com/MqfTGebz82
— BMNR Bullz (@BMNRBullz) October 26, 2025
The company has consistently expanded its Ethereum holdings since June, now reporting an unrealized profit exceeding $81 million. The treasury strategy employed by SharpLink has garnered attention from other corporations, prompting them to consider accumulating significant amounts of Ethereum for their balance sheets.
This growing institutional demand mirrors the trend observed with Bitcoin treasury accumulation in previous years and is providing considerable support to the Ethereum price.
Ethereum Price Supported By Whale Accumulation
Ethereum whales have begun to re-enter the market following a mid-October sell-off. On-chain analytics from Santiment and other sources indicate that wallets holding between 100 and 10,000 ETH have acquired approximately 218,000 ETH in less than two weeks. This quantity is equivalent to roughly one-sixth of the amount they had previously sold.
This shift back towards accumulation typically suggests that large market participants anticipate further price appreciation. The renewed buying activity from whales and sharks (large ETH holders) has coincided with the ETH price rapidly moving from the low $3,900 zone to above $4,150. Experts analyzing on-chain data interpret this as a strong indicator that major holders are confident in the current momentum and are positioning themselves for a potential year-end rally.
Ethereum Price Holds Key Levels, Prepares For New Highs
Examining the Ethereum price chart reveals a consistent pattern of higher lows and higher highs since late summer. The weekly chart now shows ETH trading above critical moving averages, signaling a positive trend.
The 50-week Simple Moving Average (SMA) is positioned at $3,151, and the 200-week SMA is at $2,449. This configuration clearly indicates that bullish sentiment is dominating the trend.
The most recent price movement propelled ETH to a high near $4,957 before experiencing a slight pullback. However, it remains comfortably above key support levels between $3,850 and $3,950. The $4,950 area is now serving as immediate resistance.
Technical indicators further support a positive outlook. The Relative Strength Index (RSI) is at 57.21, demonstrating sustained buyer strength in the market.
Additionally, the Moving Average Convergence Divergence (MACD) indicator has turned bullish, with the main line positioned above the signal line, reinforcing the indication that buyers continue to hold sway.
The Average Directional Index (ADX) is currently at 24.83, suggesting that the trend is strengthening without showing signs of being overheated.
Should the Ethereum price successfully break through the $4,950 resistance zone, ETH could rapidly approach the $5,924 area. This level aligns with Fibonacci extension targets calculated from the year's swing lows and highs.
A sustained move beyond $6,000 becomes a possibility if whales and institutions continue their accumulation efforts and if new inflows from Exchange-Traded Funds (ETFs) materialize.
On the downside, initial support is identified at $3,950, a level where the market has shown resilience with recent bounces during pullbacks. If ETH falls below this threshold, buyers are expected to defend the longer-term support near the 50-week SMA at $3,151, which has historically provided a floor for the current rally.
With increasing institutional engagement and a resurgence in on-chain accumulation, analysts foresee a strong likelihood of ETH maintaining its gains and potentially reaching new all-time highs before the close of the year. Some projections suggest price targets of $7,000–$8,000 by December, contingent on the continuation of the current trend. These forecasts often draw parallels with Bitcoin's past rallies following its halving events.
However, as with any significant price rally, there remains an inherent risk of short-term volatility. This could arise if whales decide to liquidate positions to take profits or if the broader cryptocurrency market experiences an unexpected downturn.
Nevertheless, with the ETH price trading above all major technical levels and whale wallets actively accumulating, the upward trend appears poised for continuation, positioning Ethereum as one of the most closely watched cryptocurrencies in the coming weeks.