Ethereum Price Prediction: New ETH Whale Accumulates $400M Worth of Ether – Is $5K in Sight?

Ethereum (ETH) has gone up by 62% in the past month as the passing of the Genius and Clarity Acts in the United States may have kicked off altcoin season.

Combined with the tailwind provided by the Pectra upgrade, market conditions favor a bullish Ethereum price prediction and we could see this crypto rising to $5,000 for the first time as sentiment is quite supportive.

The well-known crypto analyst Ted Pillows shared on X interesting on-chain data that confirms big whale movements as ETH nears the $4,000 level.

According to Pillows, a new wallet has been accumulating a massive amount of nearly $400 million worth of ETH in the past 4 days. This is a clear indication that deep-pocketed players are positioning for a big move ahead.

The Pectra upgrade has already introduced positive changes to Ethereum’s operational framework as average trading fees within the network have stabilized between $0.50 and $2 despite the latest spikes in ETH prices.

Pectra should supposedly keep gas fees in check. This is achieved by permitting a higher number of blobs – datasets included in each ETH block – and also through transaction batching – a modification to the EVM’s architecture that lets users include multiple actions in a single TX.

Ethereum Price Prediction: ETH Needs a Breather Before Resuming Its Upward Path

Looking at Ethereum’s 1-hour chart, there seems to be an ongoing correction that could push the token to $3,400 as market participants could start to take some profits off the table from the latest uptick.

The price has broken below a trend line support and the 9-period exponential moving average (EMA) has made a bearish crossover below the 21-period EMA. This ‘death cross’ anticipates a decline and indicates that negative momentum is building up.

Along the way, the 200-period EMA may also act as a cushion for ETH’s price action. However, the baseline Ethereum price prediction at this point still favors a drop to $3,400 to raise enough liquidity for the next leg up.

If the price gets to that level, late buyers will likely step in to scoop up the token at a discount to prepare for further upward moves. The $5,000 level is attainable but the rally at this point seems overheated.

As top altcoins keep performing positively, the best crypto presales will likely draw significant attention from investors. Best Wallet (BEST) stands out among them as it has raised more than $14 million to launch its powerful crypto wallet.

Best Wallet (BEST) Offers Low Swap Fees and Multichain Support

Best Wallet (BEST) comes to challenge the dominance of well-established solutions like MetaMask and Phantom by introducing a multichain wallet that supports assets in 60 different blockchains.

The developing team has incorporated a powerful tool as well that gives users the chance to identify the most promising projects during their presale stage and invest in them before they reach whales’ radars.

This feature is called ‘Upcoming Tokens’ and it has already spotted top-performing tokens since the Best Wallet app was launched a few months ago.

Once this wallet starts to be embraced by the crypto community, the demand for its ecosystem token $BEST will explode.

To position yourself to reap the highest returns, you can buy $BEST now at its discounted presale price of $0.025375.

Just visit the Best Wallet website and connect your wallet. In case you don’t have one, you can download the Best Wallet app. You can invest by using a bank card or swapping ETH or USDT.

Alejandro Ar