Ethereum has gained over 17% in the last seven days and breached the $2,500 mark, indicating a bullish trend.
Analysts suggest that Ethereum is primed for a breakout after a four-year consolidation period, with price predictions suggesting ETH could reach new all-time highs.
Skyrexio forecasts a potential price surge for Ethereum, targeting $6,500 as part of wave 3 in the Elliott wave structure.
Whales are accumulating Ethereum ahead of a potential rally, with nearly 1 million ETH withdrawn from exchanges in the past month.