Ethereum (ETH) is recording increased whale attention, with large investors accumulating the asset as it attempts to break past long-term resistance.
On-chain data indicates that Ethereum whales bought over 140,000 ETH worth approximately $322 million in just 96 hours, according to Santiment insights shared by cryptocurrency analyst Ali Martinez on May 3.
According to the data, whale-held Ethereum balances have steadily climbed in recent days, with ETH holdings rising from around 13.83 million coins at the start of the period to nearly 13.98 million ETH by May 3.
Ethereum whale transactions. Source: Alli Martinez/ Santiment
The buying spree comes as Ethereum traded at $2,333 at press time, up about 1% in the past 24 hours.
ETH seven-day price chart. Source: Finbold
Notably, whale accumulation is often viewed as a key indicator because institutional-scale investors typically buy aggressively during consolidation phases ahead of anticipated price appreciation.
Ethereum price prediction
Following the aggressive buying, Finbold turned to OpenAI’s ChatGPT for insights on how the cryptocurrency might trade in the coming sessions.
Based on the whale accumulation, Ethereum’s current technical structure, and broader crypto momentum, ChatGPT predicts ETH is more likely to move higher than lower over the next one to three months.
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The probability-weighted outlook assigns a 60% chance that Ethereum rallies into the $2,700 to $3,000 range. Meanwhile, there is a 25% probability the cryptocurrency remains trapped between $2,200 and $2,500, while the likelihood of a deeper decline below $2,000 stands at 15%.
ChatGPT’s bullish stance is largely driven by the scale and speed of the whale accumulation. The model noted that purchases of 140,000 ETH within four days represent unusually aggressive buying behavior that has historically aligned with periods preceding stronger upside moves.
From a technical perspective, the $2,550 level is emerging as Ethereum’s most important breakout zone. A decisive move above that resistance could trigger renewed momentum buying and potentially send ETH toward the $2,800 region in the near term.
Based on the current setup, ChatGPT projects Ethereum could reach around $2,650 by the end of May 2026. In a stronger bullish scenario, the cryptocurrency could climb toward $3,200 by mid-2026 if market conditions continue improving. However, in the event of broader crypto weakness, downside support is seen around the $1,900 level.