Ethereum (ETH) is flashing signs of a potential large-scale breakout, backed by a combination of technical patterns, whale accumulation, and increasing institutional activity. With the asset currently trading between $1,750 and $2,400, analysts are setting sights on a long-term target as high as $8,000.

Bull Flag Formation Signals Continuation Potential

Ethereum’s monthly chart reveals a developing bull flag–a classic continuation pattern that forms after a strong upward move followed by consolidation. This structure, if confirmed with a breakout above the flag’s upper boundary, could push ETH sharply higher.

At present, ETH is testing the lower band of the formation, a level analysts see as a key inflection zone. Should buyers reclaim control and break resistance in the $4,000-$4,400 range, the projected target stands at $8,000–marking a multi-year high.

Whale Behavior and Inflow Patterns Strengthen the Case

Blockchain data shows a sharp uptick in whale activity. Over 63,000 ETH were sold by major holders within 48 hours, likely as part of portfolio rebalancing. At the same time, accumulation addresses received 449,000 ETH in a single day–signaling that large investors are stacking coins ahead of a possible rally.

Ethereum’s active address count also rose by 10% over two days, pointing to growing investor engagement and renewed confidence in the network.

Institutional Flows and Large Transactions Accelerate

IntoTheBlock reports a surge in institutional interest, with ETH transactions over $100,000 climbing steadily. On April 22 alone, large transactions exceeded 6,000–a level often associated with upward price shifts.

These moves helped push Ethereum’s price to $1,796.44, up 1.9% from intraday lows. Market cap rose to $216.88 billion, while 24-hour trading volume climbed 11.52% to $17.15 billion.

Cautious Optimism Despite DeFi Lag

While whale accumulation and technical signals point to bullish momentum, decentralized finance (DeFi) activity remains subdued. DEX volumes have yet to show a significant rebound, suggesting retail enthusiasm has yet to fully return.

Still, with long-term accumulation trends growing and key resistance levels approaching, Ethereum appears well-positioned to resume its broader uptrend–with $8,000 remaining the primary long-term target if conditions continue to align.

In the meantime, Solana eyes major breakout–price targets point to $290 in 2025