Ethereum Analysts Eye $10K as Whale Accumulation Accelerates

Ethereum is once again in the spotlight as traders point to historical patterns and on-chain signals that suggest a major rally could be brewing.

Two widely shared charts this week highlight both the technical setup and investor behavior shaping ETH’s outlook.

Historical Rhyme: 2017, 2020… and Now 2025

A chart from Crypto Gems shows Ethereum repeating a familiar cycle seen in 2017 and 2020—extended accumulation phases followed by explosive upward runs. According to this model, the current consolidation could be the last pause before ETH begins a push toward $10,000, a milestone analysts say may arrive “sooner than you think.”

Each previous breakout came after long sideways periods where sentiment turned quiet, only to be followed by surging retail inflows and price discovery. Traders argue 2025 could be setting up for a similar trajectory.

Whales Accumulate in Silence

Meanwhile, Merlijn The Trader shared an “Ethereum Accumulation Map” that frames market psychology through colored bands. Retail investors, he argues, typically panic in the blue zone, while whales buy aggressively in the green bands. The current price action places ETH squarely in what he calls the “legendary accumulation zone.”

“The map is clear: accumulate when it’s quiet, not when it’s crowded,” Merlijn wrote. He cautioned that the red zone, near the upper ranges, is historically where tourists FOMO in and whales take profits.

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The Bigger Picture

With ETH consolidating around mid-cycle levels, traders believe whales are positioning ahead of the next leg higher. If history repeats, Ethereum could be preparing for one of its strongest rallies yet-potentially taking aim at five-digit prices.