Ethereum Shows Bullish Signals Amidst Whale Accumulation and Pennant Formation

Edited by: Yuliya Shumai

As of July 8, 2025, Ethereum (ETH) is trading at $2,609.91, up 2.91% from the previous close. The day's trading range has been between $2,526.61 and $2,623.09. This positive movement is supported by significant accumulation by large holders and a bullish pennant formation, according to the provided information.

Since October 2024, Ethereum wallets holding at least 10,000 ETH have increased their holdings by 9.31%, recovering from a low of 37.56 million ETH to over 41.06 million ETH as of July 7, 2025. This accumulation rate is nearly double the pace observed before ETH's 95% rally in 2022. The daily chart shows a bull pennant pattern, indicating a potential continuation of the upward trend.

Analysts predict varying prices for August 2025. PricePredictions.com forecasts a maximum of $9,086.93. CoinMarketCap projects an average price of $3,700.60, while CoinCu forecasts a range between $2,568.41 and $3,995.50. These factors suggest a strong bullish trend, prompting investors to monitor developments closely.

Sources

  • Cointelegraph

  • PricePredictions.com

  • CoinMarketCap Academy

  • CoinCu

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