Ethereum price prediction: Whale accumulation grows as weak volumes raise reversal risk
Ethereum is once again receiving conflicting signals from some of the market’s largest participants. The longer that divergence persists, the more important the next directional move becomes.
2255.58
2391.55
A large on-chain player continues to rotate capital from Bitcoin into Ethereum. According to Arkham, an unidentified whale sold 1,107 BTC worth roughly $86.76 million on Hyperliquid over the past five days, then bought 34,422 ETH for about $86.5 million and moved the entire position into staking.
Institutional flows are pointing in the opposite direction. U.S. spot Ethereum ETFs recorded roughly $140 million in net outflows during the September 14–18 week, ending a four-week streak of positive flows.
$2,630 becomes the trigger for a deeper pullback
The base-case scenario from the previous analysis did not play out, with ETH invalidating it after breaking above $2,550 and holding there.
The advance over the past three days, however, has come on relatively weak trading volume, suggesting that the upside move lacks strong participation. If today’s daily candle forms a shooting star, doji or another reversal pattern, the risk of a move back toward $2,550 would rise. A break below $2,630 would provide the key confirmation.
The RSI (14) is also approaching overbought territory while forming a short-term bearish divergence. This signal can appear well before an actual reversal, however, meaning there may be a meaningful lag between the divergence itself and any change in price direction.
A sustained move above $2,700 would invalidate the setup. In that case, the next target would shift toward the $2,900–3,000 area.
Glamsterdam moves closer to its next test
Glamsterdam remains Ethereum’s next major protocol catalyst. The upgrade is already being tested on devnet, with the Sepolia fork scheduled for October 6 as the next major milestone. Mainnet activation is still expected in Q4 2026, although an exact date has yet to be confirmed.
Glamsterdam is designed to reshape how blocks are built and validated, expand parallel transaction processing and prepare Ethereum’s L1 for further throughput growth.
For now, the upgrade remains more of a medium-term fundamental driver. As the Sepolia fork approaches, however, it is likely to attract increasingly more attention from the market.
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