Ethereum Market Makers Show Signs of Accumulation Amid Potential for Upward Move

• Ethereum market makers have resumed active accumulation of ETH, signaling potential bullish momentum in the crypto market.

• On-chain data reveals sustained outflows from exchanges and increased buying activity among whales and retail investors alike.

• According to Aphractal founder Joao Wedson, accumulation patterns currently dominate, suggesting structural support for an upward price movement.

Ethereum sees renewed accumulation by market makers and whales, with strong on-chain signals pointing to a potential breakout above key resistance levels.

Ethereum Market Makers Reengage with Aggressive Accumulation

After a period of relative market stagnation, Ethereum’s market makers have re-entered the scene with significant buying activity. This resurgence is evident from the persistent negative Spot Netflow over the past seven days, indicating continuous withdrawals of ETH from exchanges. Such outflows typically suggest that investors prefer holding assets off-exchange, reflecting confidence in long-term value retention. Market makers’ accumulation-heavy behavior signals a foundational shift, potentially setting the stage for upward price dynamics.

Source: X

Joao Wedson’s Wyckoff-based analysis highlights a predominance of accumulation over distribution phases, reinforcing the notion that Ethereum’s ecosystem is gearing up for a potential bullish breakout. This is further corroborated by CoinGlass data showing consistent negative netflows, a hallmark of strong investor conviction.

Source: CoinGlass

Whale Activity and Market Sentiment Support Accumulation Thesis

Further supporting the accumulation narrative, data from IntoTheBlock reveals that Ethereum whales have notably reduced their netflows to exchanges, indicating a reluctance to sell. The Large Holders Netflow to Exchange Netflow Ratio’s sharp decline from 4.28% to 0.62% underscores this trend, suggesting whales are increasingly holding or acquiring ETH rather than liquidating positions.

Source: IntoTheBlock

CryptoQuant data also confirms a positive shift in the ETH Taker Buy-Sell Ratio, indicating that buy orders have recently outpaced sell orders across exchanges. This metric reflects a market environment where buyers are actively lifting offers, reinforcing the strength of accumulation across different investor segments.

Source: CryptoQuant

Potential for Ethereum Breakout Amidst Strong Liquidity Zones

The ongoing accumulation phase positions Ethereum for a potential breakout, with critical resistance levels to watch closely. A decisive move above the $2,660 mark could unlock further upside toward $2,830, a zone characterized by high liquidity and increased trading activity. This area may attract aggressive buying, potentially propelling ETH closer to the psychologically significant $3,000 threshold.

Source: Alphractal

However, sustaining this bullish momentum requires defending the $2,556 support level. A breach below this threshold could undermine the current accumulation thesis and increase the risk of a downward correction. Investors should monitor these key price points closely to gauge the strength of Ethereum’s next directional move.

Conclusion

Ethereum’s market dynamics reveal a compelling accumulation phase driven by market makers and whales, supported by consistent exchange outflows and positive buy-sell ratios. This structural buildup suggests that ETH is primed for a potential breakout, contingent on overcoming critical resistance levels. Market participants are advised to watch the $2,660 resistance and $2,556 support closely, as these will likely dictate Ethereum’s short-term trajectory. Continued accumulation signals growing investor confidence, positioning ETH for a meaningful move in the near term.