Is Ethereum About to Skyrocket? Whales and Wyckoff Say Yes! 🚀💰

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So, here we are, peering into the mysterious world of Ethereum (ETH). It seems this digital currency is strutting its stuff, showing off a robust structure across various technical models and on-chain data. Analysts-those brave souls who peer into the financial abyss-are suggesting that ETH is nearing the end of its binge-watching phase of accumulation. With the price clinging to support like a cat on a windowsill at $3,000, some folks are speculating whether it might just leapfrog into the dazzling $5,000-$7,000 range. 💸

Wyckoff Pattern: Almost There!

Now, let’s talk about the Wyckoff Accumulation Schematic. Sounds fancy, doesn’t it? According to a monthly chart shared by Bitcoin-sensus (yes, I’m serious), Ethereum appears to be in the final act of this unfolding drama, transitioning from Phase C to Phase D. The recent bounce from what they call the Last Point of Support (LPS)-which sounds like a wannabe rock band-suggests that demand is strutting back into town.

As we speak, Ethereum is priced around $3,100. Should it break above $4,000, we’d officially witness a Sign of Strength (SOS)-not to be confused with a call for help in a sinking boat. If all goes well, the next targets could be anywhere between $5,000 and $7,000. Fingers crossed, because this reflects the projected move after a proper accumulation cycle. Let’s hope they have the snacks ready for the long haul!

$ETH MONTHLY ACCUMULATION NEARLY COMPLETE

Wyckoff Phase C ➝ D transition unfolding

Strong bounce from LPS signals demand returning

Break above $4K = SOS confirmation → $5K-$7K target?

– Bitcoinsensus (@Bitcoinsensus) January 8, 2026

In a twist worthy of a soap opera, analyst Egrag Crypto has presented an inverted Ethereum chart-it’s like turning a pancake over to see if it’s cooked inside! He’s noted that each cycle has exhibited longer accumulation with less volatility. He cheerfully explained, “A ‘drop’ here = ETH breakout on the real chart,” which is what we call a classic case of chart gymnastics.

His chart suggests a resistance zone cozying up at $3,800-$4,500. If those levels switch to support, we might be eyeing the enchanting $6,000-$7,500 area. But hold your horses, folks! The only risk would be a potential retest of the $1,800-$2,200 area before any breakout commences. Because, why not throw in a little suspense?

On another note, Merlijn The Trader has been keeping tabs on Ethereum’s short-term structure and mentioned that as long as it clings to the $3,000 level, all is well in the universe. A push above $3,360 could pave the way to $3,600. And this current pullback? Just part of the regular rollercoaster ride. 🎢

Whales on the Move!

Now, let’s chat about whales-not the gentle giants of the sea, but the crypto kind! Merlijn has shared some intriguing data showing that wallets holding between 10,000 to 100,000 ETH are increasing their balances. This trend kicked off in 2025 after a prolonged sabbatical in whale holdings. The increase continues even while the price remains near the $3,000 mark. Who knew whales could be so strategic?

“This isn’t momentum chasing. This is strategic positioning,” he elaborated, sounding rather serious. “Distribution happens at tops. Accumulation happens before moves.” Wise words, indeed!

To add to this delightful cocktail of information, lower ETH balances on exchanges-now dipping under 16.5 million according to CryptoQuant-help substantiate this theory. Less supply on exchanges tends to ease the short-term sell pressure. Less drama, more crypto gains!

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2026-01-09 20:25