Ethereum price demonstrated signs of rebounding from its sharp recent price decline which leads analysts to speculate about establishing long-term market trends.
Ethereum whales imposed major selling pressure on the cryptocurrency during the previous week.
Analysts wonder if this recovery indicates a future market upswing or represents a temporary market rebound within ongoing downward momentum.
Ethereum Whales Have Sold Over $16M Worth of ETH
Ethereum whales have been instrumental in driving cryptocurrency market movements during the latest period.
A seasoned Ethereum investor sold 10,702 ETH worth $16.86 million at $1,576 per token during the past few days.
Notably, the investor conducted their initial transaction in more than 24 months. Blockchain data from Etherscan has shown that the investor purchased ETH during 2016 at a value of $8 per token.
The significant transaction caught market attention because it indicated the active return of an investor who remained inactive for two years.
In addition, Ethereum whales showed a preference for holding their ETH positions when prices hit $4,000 in December 2021 rather than conducting any sales.
The investor move has intensified speculation regarding their reasons for selling at this particular time.
Consequently, recent selling activity by ETH whales has generated predictions about future price fluctuations amid volatility.
ETH Price Bounced from $1,400 Lows
However, Ethereum price maintained its strength despite whale investor selling by regaining more than 13% above the $1,400 lowest point.
ETH has sustained above $1,600 through current trading sessions. The recent market recovery has prompted participants to evaluate whether it signals an ongoing trend shift or represents a brief recovery period.
Such strong price action signifies that ETH has established important support zones from where future growth could begin.
Market activity during the recent period witnessed high trading volumes totaling more than $35 billion.
The rising trading volume demonstrates a positive market development since it signals increased retail and institutional investor engagement with Ethereum.
Analysts Believe ETH Is Set For a Bullish Reversal
More so, various market analysts have predicted Ethereum could achieve a surge in the coming weeks.
Crypto analyst Luciano_BTC observed that Ethereum price chart has indicated encouraging conditions for an upcoming price surge.
He also noted that ETH has preserved its position on the critical support threshold while creating a falling wedge pattern that typically leads to bullish turning points.
ETH could embark on a major upward price movement if its price exceeds the trendline at its upper boundary.
In his assessment, analyst Ali Martinez pointed to an opening for contrarian investment through favorable ETH price acquisition possibilities.
According to Martinez, Ethereum’s long-term holders have capitulated but the altcoin shows potential recovery.
The market risks and rewards ratio appears favorable indicating ETH might undergo a major surge if market aspects match.
Additionally, another analyst, Mister Crypto has pointed out that Ethereum has shown signs of excessive selling pressure.
He noted that it is positioned within the Ethereum Logarithmic Regression Channel and the Relative Strength Index (RSI).
The current historical positioning of ETH suggests investors should consider buying opportunities.
The analyst has predicted that Ethereum may initiate a rally because its current oversold state precedes substantial price gains.
The data also suggested that ETH is ready to shift toward positive price trends soon. Meanwhile, according to recent analysis, Ethereum price was facing selling pressure at $1,505.34 even though many investors bought at $2,200 on average.
Historical market data points to recovery potential since similar downturns like the Luna crisis have previously occurred.
Source: https://www.thecoinrepublic.com/2025/04/10/ethereum-price-recovery-trend-reversal-or-temporary-bounce/