Ethereum (ETH) has faced pressure lately, dropping over 51% from its $4100 peak in December 2024. However, with an increase in whale purchases and significant growth in future trading positions, some analysts predict Ethereum could return to above $2200 and start a new upward trend. Despite Ethereum not showing strong upward movement yet, the notable increase in future trading positions on March 21 has kept hopes alive for ETH price growth to $2400. Glassnode data reveals the number of wallets holding at least $100,000 worth of Ethereum has risen from 70,000 addresses on March 10 to over 75,000 on March 22. It is worth mentioning that in December 2024, when Ethereum was above $4000, over 146,000 addresses held such balances. Despite short-term fluctuations, some analysts remain optimistic about Ethereum’s future. Pantera predicts ETH price could rise to $6000 in its new bullish cycle. Richt Capital, a prominent market analyst, also mentioned on social media that for a reversal of the downtrend, Ethereum must reclaim the wide range of $2196 to $3900. However, major economic influences, including concerns over trade wars, may pressure the market until early April.
