Ethereum is trading close to $2,560 (check updated price here), and bullish sentiment is rising. A massive investor snapped up 48,825 ETH, worth $127 million, at an average price of $2,605, right during a dip. The move comes just as market watchers are gaining confidence in ETHs potential for a massive run-up.
The same investor reportedly made $30 million from previous Ethereum trades. With over 242,000 ETH options recently expired and a put-call ratio sitting at 1.20, Ethereum is now showing signs of recovery, setting the stage for a breakout toward higher targets.
Crypto analyst Ted Pillows highlights Ethereums recent price action four green candles in a row on the two-week chart. This mirrors Bitcoins setup before its major 2020 bull run. He sees ETH as likely to surge beyond $10,000 by the end of the year.
MerlijnTrader backs the claim, stating Ethereum could reach $11,000, especially for those who missed Bitcoins 2020 momentum. ETH is currently bouncing between $2,400 and $2,750, but this could be the calm before a storm.
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