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Ethereum Approaches Critical $2,950 Level: Could This Breakout Ignite a Major 2025 ETH Rally?

Ethereum, the world’s second-largest cryptocurrency by market capitalization, is once again in the spotlight as its price hovers near the key resistance level of $2,950. This technical barrier is viewed by analysts as the gateway to what could be the next significant rally for ETH, potentially pushing prices well beyond $3,000 and setting the stage for renewed bullish momentum in 2025.

Adding intrigue to the current market dynamics is the unexpected reactivation of an Ethereum whale wallet from 2015. The sudden movement from this dormant account, combined with shifting trends in Ethereum exchange-traded funds (ETFs), has created a climate of both excitement and caution among traders and investors.

Source: X

Dormant Whale Wallet Awakens After a Decade

In a development that has captured the attention of the crypto community, an Ethereum wallet dating back to the network’s 2015 initial coin offering (ICO) has shown signs of activity after nearly a decade of silence. Blockchain analytics firm Lookonchain reported that the wallet originally received 2,000 ETH during the ICO for a mere $620, when Ethereum was trading at approximately $0.31 per coin.

On June 14, 2025, this wallet executed a small transfer of just 0.002 ETH. Although the amount involved was minuscule — valued at under $6 at current prices — such activity from an address inactive for nearly 10 years has led many to believe that the owner was testing access or preparing for potential larger transactions.

The reactivation of this wallet, which now holds ETH worth over $5 million at current valuations, has sparked widespread speculation. Market watchers are debating whether this could lead to the liquidation of the entire holding or mark the beginning of further whale accumulation as Ethereum’s price gains strength.

Whale wallet movements, especially those tied to early investors, are often seen as leading indicators of shifting market sentiment. Such entities hold substantial quantities of crypto assets, and their actions can influence both price direction and overall market confidence.

ETH ETF Inflow Streak Breaks After Strong Performance

In parallel with whale wallet activity, Ethereum’s institutional landscape has witnessed a subtle but noteworthy shift. The strong inflow streak into spot Ethereum ETFs, which began on May 16 and continued for 19 consecutive trading days, has finally come to an end.

According to data shared by Coin Bureau, these ETFs accumulated a total of $1.37 billion in net inflows during that period, marking one of the most successful streaks since the launch of Ethereum ETFs in July 2024. The sustained interest reflected growing institutional confidence in Ethereum as a digital asset with long-term value.

Source: X

However, on June 13, the streak concluded with a net outflow of $2.1 million, signaling a temporary pause in the previously robust momentum. While the outflow amount is modest compared to the inflow streak, it suggests that some investors may be taking a more cautious stance in the short term, potentially awaiting clearer technical signals or macroeconomic developments before committing further capital.

Price Action: The $2,950 Level in Focus

Ethereum’s price performance in recent weeks has largely reflected consolidation, with the coin trading in a relatively tight range but maintaining a bullish structure. Analysts point out that ETH continues to form a pattern of higher highs and higher lows — a classic signal of an uptrend in technical analysis.

The immediate resistance level that has captured traders’ attention is $2,950. A clean breakout above this price point could serve as the catalyst for a larger rally, propelling ETH above the psychological $3,000 mark and possibly beyond.

“Ethereum is showing resilience despite broader market uncertainties,” said Sarah Liang, senior crypto strategist at CoinMetrics. “The $2,950 level is critical. If bulls can sustain a move above that, we could be looking at the next major leg higher for ETH in 2025.”

Technical indicators, including moving averages and momentum oscillators, continue to support the bullish case, though some traders remain cautious due to recent ETF outflow data and the potential impact of whale activity.

The Impact of Whale Movements on Market Sentiment

Whale movements in cryptocurrency markets often serve as bellwethers of broader trends. Early investors, particularly those from the 2015-2017 Ethereum cycle, hold substantial amounts of ETH acquired at prices that seem almost unimaginable today. When these investors re-emerge, their actions can trigger significant market reactions.

The reactivation of the 2015 ICO wallet — regardless of the small transfer size — has led to a flurry of discussions across trading desks and social media platforms. Some market participants interpret this as a sign that legacy investors may be preparing to either take profits or redistribute holdings. Others suggest that the whale could be positioning to accumulate more ETH in anticipation of a long-term price surge.

“Anytime you see a dormant whale wallet come to life, it gets people’s attention,” explained Mark Davis, blockchain researcher at ChainView. “Even if no major transfer follows, it adds a layer of psychological complexity to market dynamics. Traders start to ask: What does this wallet know that we don’t?”

A Pivotal Moment for Ethereum

The convergence of technical resistance, whale activity, and shifting institutional inflows places Ethereum at a pivotal moment. The cryptocurrency has already shown remarkable resilience in 2025, benefiting from broader interest in decentralized finance (DeFi), layer-2 scaling solutions, and Ethereum-based tokenization projects.

Source: X

With ETF flows demonstrating strong — if briefly interrupted — demand, and with technical patterns favoring continued upside, many analysts believe that Ethereum is well-positioned for further gains if the $2,950 resistance is decisively broken.

Of course, risks remain. Regulatory developments, macroeconomic shifts, or unexpected whale liquidations could introduce volatility. For now, though, the mood in Ethereum markets appears cautiously optimistic, with traders watching closely for that critical breakout signal.

Conclusion

Ethereum’s approach to the $2,950 resistance level, combined with the reawakening of a long-dormant whale wallet and the end of a historic ETF inflow streak, creates a dynamic environment for investors. As the market processes these developments, the next few weeks could prove crucial in determining the trajectory of ETH for the remainder of 2025.

Whether this period of consolidation marks the calm before a major breakout or a pause before further accumulation, Ethereum continues to command the attention of traders, investors, and institutions alike.

Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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