Key Insights:
- Ethereum price gained strength against Bitcoin, with analysts noting a bullish trend since April 2025.
- On-chain indicators show that long-tern holders are on a strong ETH accumulation spree.
- Key levels remain critical, with support at $2,150 to $2,200, while long term indicators suggest ETH may be undervalued.
Etheruem (ETH) has been one of the key digital assets in contributing to the crypto market rally recently. Ethereum price rallied all the way to $2,400 this week.
Interestingly, whales and retailers are showing opposite behaviour as market sentiment remains divided. Inflows into spot Ether ETFs have also resumed once again.
Ethereum Price Rally Meets Retail Sell-Off
Recently, Santiment reported that small retail traders are aggressively selling Ethereum during the recent price rally. Per the firm, wallets holding 0.01 ETH or less have offloaded 1,791 ETH, worth approximately $4.16M, over the past two days.
Retail investors booked profits after the 17% Ethereum price upside. They saw the move after March 29 as a potential bull trap. Santiment noted that such behavior historically aligns with continued upward momentum. It added that markets often move against the retail sentiment.
On the other hand, Santiment has also spotted a jump in large holder accumulation. It noted that the number of wallets holding at least 100,000 ETH surged from 54 to 57 over the past week.
The firm noted that growth in high-value wallets has historically shown a correlation with Ethereum price strength. Thus, this accumulation from large holders reflects clear market strength.
Ethereum Price Performance Against Bitcoin
Santiment reported that Ethereum climbed as high as $2,391, with its price dominance against Bitcoin reaching its highest level since late January.
The firm noted that funding rate data across exchanges is showing signs of increasing bullish sentiment. This shows rising trader optimism around the largest altcoin.
Popular crypto analyst Michael van de Poppe also said that Ethereum is showing stronger momentum than Bitcoin. He added that the ETH vs BTC pair is in a bullish trend since April 2025.
According to the analyst, Ethereum has been in an uptrend since bottoming earlier this year. Thus, he added that the asset is entering a new bull market phase.
ETH Price Action Ahead
Ted Pillows said Ethereum price has been rejected at the $2,400 resistance level, that signals weakness in its recent rally. According to the analyst, the next critical support zone lies between $2,150 and $2,200.
He noted that a breakdown below this range could increase downside risk. If the support fails, the ETH price could potentially fall to $2,000 and lower.
However, market analyst Crypto Patel noted that Ethereum price is trading in a historically undervalued zone based on the Rainbow Chart. According to the analyst, Ethereum has only entered this valuation range twice before.
Both instances in the past were followed by strong rallies that reached higher profit zones within approximately 18 months. Crypto Patel highlighted the $1,500 to $2,000 range as a critical area to monitor. As per him, it could act as a key accumulation zone for investors.
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