A potential coordinated move has seen more than $342 million worth of ETH scooped from exchanges, a testament to further bullish momentum for Ethereum price predictions.
Such large-scale withdrawals are typically interpreted as signs of long-term holding intentions, since smart money often moves altcoins off exchanges for self-custody or strategic allocation.
According to data from Lookonchain, the four newly created wallets withdrew a combined 78,229 ETH from Kraken in just 10 hours, though there are no links to known whales or institutions.
The accumulation comes just five days before widely expected U.S. interest rate cuts, a macro catalyst that could stimulate demand for risk assets like ETH.
Ethereum Price Prediction: Is This Early Positioning For the Next Bull Run?
Looking at the 4-hour chart, this whale accumulation also came hours before the breakout from a descending channel that had held Ethereum in consolidation for the past three weeks.
A support trendline stretching back to early August has proven the launchpad for Ethereum’s next upward move.
ETH / USD 1-day chart, descending channel breakout. Source: TradingView.Momentum signals, however, urge caution. The RSI has pushed into overbought territory near 70, often a marker of local tops as buyers exhaust short-term momentum.
That said, the MACD line continues to hold a strong lead over the signal line, suggesting that the broader uptrend retains strength despite signs of a potential histogram peak.
With this move, Ethereum has broken key resistance that capped upside since the start of September at $4.500, a level analysts argue is the gateway for a 10% rally toward $5,000.
If this level holds as support and $5,000 is realised, ETH enters uncharted territory with no historical resistance, opening the door to price discovery.
A stronger rally, underpinned by up to 75 bps in U.S. rate cuts before year-end, could extend the Ethereum price toward $7,000—a 55% gain from current levels.
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The post Ethereum Price Prediction: 4 Mysterious Wallets Accumulate Millions of ETH – Are Billionaires Secretly Buying ETH? appeared first on Cryptonews.
