Ethereum whales have started accumulating ETH, with a noticeable spike in large transactions on Binance since May 19, 2025.
Data indicates that large ETH holders have acquired 301,000 ETH recently, with a positive netflow of 108,000 ETH, showing increased buying activity.
Despite the accumulation, Ethereum's price remains range-bound between $2,400 and $2,700, with resistance at $2,700 posing a challenge for a breakout.
Market sentiment suggests a potential breakout if buying pressure continues and surpasses the $2,700 resistance level, while technical indicators point to a consolidation phase.