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Ethereum has officially entered the Wyckoff markup phase, surpassing the $3,500 mark as institutional ETF inflows soar to $2.27 billion and whale accumulation intensifies in July.
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Market dynamics reveal a robust technical breakout supported by rising open interest and sustained buying pressure from large investors, signaling strong bullish momentum.
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According to COINOTAG, “Ethereum’s transition from accumulation to markup phase marks a pivotal moment, with institutional demand and on-chain whale activity driving price action toward new highs.”
Ethereum breaks above $3,500 entering Wyckoff markup phase amid $2.27B ETF inflows and rising whale accumulation, signaling strong bullish momentum and institutional support.
Ethereum’s Wyckoff Markup Phase Signals Strong Uptrend Above $3,500
Ethereum’s price action has decisively moved into the Wyckoff markup phase after breaking above the critical $3,500 resistance level. This development follows a well-defined accumulation cycle that began in mid-2022, characterized by a selling climax near $880 and a prolonged consolidation between $1,000 and $2,000. The recent breakout confirms that Ethereum has crossed the “creek” and completed the “spring” phase, classic Wyckoff terms indicating a shift from accumulation to a sustained uptrend. This technical progression is a strong indicator that Ethereum is poised for further gains, with the $4,000 level emerging as the next key target for investors and traders alike.
Institutional ETF Inflows and Whale Accumulation Drive Momentum
Institutional demand for Ethereum continues to accelerate, evidenced by a remarkable $2.27 billion inflow into spot Ethereum ETFs during July alone. BlackRock’s ETHA fund notably attracted nearly $500 million, underscoring growing confidence from large-scale investors. Complementing this, on-chain analytics reveal a sharp increase in whale activity, with Nansen reporting a 95% month-over-month rise in whale accumulation, totaling approximately 1.49 million ETH. Corporate entities like SharpLink Gaming have emerged as significant holders, controlling over 111,000 ETH valued at $343 million. These factors collectively reinforce Ethereum’s bullish outlook, as institutional capital and large holders consolidate positions ahead of anticipated price appreciation.
Technical Indicators Affirm Bullish Strength and Market Confidence
Ethereum’s technical setup further supports the bullish narrative. The asset recently broke out from an ascending triangle pattern, a classic continuation signal, and continues to trade above key moving averages, including the 50-day and 200-day lines. Momentum indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) remain in favorable zones, indicating sustained buying pressure. Additionally, open interest in Ethereum futures and options markets has risen, reflecting increased trader engagement and confidence in upward price movement. These technical signals, combined with strong institutional backing, suggest that Ethereum is well-positioned for continued gains in the near term.
Market Outlook: Navigating the Path Toward $4,000 and Beyond
As Ethereum consolidates its gains above $3,500, the focus shifts to overcoming the $4,000 resistance level, which represents a critical psychological and technical barrier. Successful navigation of this hurdle could open the door to new all-time highs and attract further institutional inflows. Market participants should monitor volume trends and on-chain metrics closely, as sustained accumulation by whales and continued ETF inflows will be key drivers of momentum. Investors are encouraged to stay informed and consider strategic entry points aligned with Ethereum’s evolving technical landscape.
Conclusion
Ethereum’s transition into the Wyckoff markup phase, supported by substantial ETF inflows and increased whale accumulation, marks a significant milestone in its price trajectory. The convergence of strong technical indicators and institutional demand underscores a robust bullish outlook, with $4,000 emerging as the next major target. Market participants should remain attentive to evolving on-chain data and price action, as Ethereum’s current momentum suggests promising opportunities ahead.
