- ETH formed a bullish flag pattern above its 200-day EMA; breakout may target $3,000-$3,500 price zone.
- Critical liquidation clusters exist at $2,607 ($811M longs) and $2,716 ($728M shorts); these could force sharp volatility.
Large Ethereum holders acquired over one million ETH during the past month. This accumulation happened while ETH prices moved within a defined range.
Whales have bought over 1 million #Ethereum $ETH in the past month! pic.twitter.com/CCiujnmdWq
— Ali (@ali_charts) May 27, 2025
Blockchain trackers observed two new wallets withdrawing 4,838 ETH, valued at $12.86 million, from the Kraken exchange on a recent date. This whale activity aligns with ETH trading sideways for more than 17 days, suggesting patient positioning near established support levels.
ETHNews analysis of Ethereum’s price chart indicates the formation of a bullish flag pattern. This pattern typically appears during pauses within upward trends. Ethereum consistently held above its 200-day Exponential Moving Average (EMA) throughout this period. Holding this long-term average often provides a foundation for price stability.
Technical experts suggest a confirmed break above this pattern could propel ETH toward the $3,000 to $3,500 price zone. Historically, upward moves in Ethereum often precede similar action across other digital assets.
Despite the positive signals, potential price turbulence exists near specific levels. High concentrations of leveraged trading positions cluster around $2,607 and $2,716. These levels represent critical points where automatic liquidations could trigger rapid price movement.
Data shows approximately $811 million in long positions betting on price increases and $728 million in short positions betting on price decreases concentrated around these levels. If ETH price reaches either point, the resulting liquidations could cause sharp, short-term price swings.
As of May 28, 2025, Ethereum (ETH) is trading at approximately $2,638, reflecting a 4% increase over the past 24 hours. This upward movement is supported by growing institutional interest and positive market sentiment surrounding Ethereum’s role in decentralized finance and layer-2 network development. The recent rebound suggests strong buyer interest at lower levels, especially as ETH regains momentum following a brief consolidation phase.
From a technical perspective, ETH is exhibiting a bullish trend. The formation of an ascending triangle pattern on the daily chart indicates potential for a breakout above the $3,000 resistance level.
The 50-day simple moving average (SMA) is nearing a crossover above the 100-day SMA, reinforcing the bullish outlook. However, the narrowing Bollinger Bands imply that a significant price movement could be imminent, and traders should be prepared for increased volatility.
