Ethereum’s native token, Ether (ETH), is showing signs of potential growth, with projections suggesting a rise of about 25% in the coming months. This optimism stems from the richest group of ETH holders, or “whales,” returning to profitability for the first time since February, as indicated by data from CryptoQuant. Historically, when this whale cohort becomes profitable, ETH has averaged gains of 25% over three months and 50% over six months.
The current on-chain metrics suggest that ETH could rally above $2,750 by June if the trend continues. However, it remains below its realized price of $2,353, making this a critical recovery level. A successful break above this threshold could pave the way for further upside, while failure to reclaim it may expose ETH to a retest of lower support levels around $1,950-$2,000.
Market professionals should monitor these whale metrics closely, as they could signal renewed confidence among major holders and influence broader market sentiment.
Source: cointelegraph.com