Despite recent struggles, the Ethereum whales are in motion. Analyst Ali Martinez reports that the whales have accumulated over 420,000 ETH (valued by $811 million) over the past five days.
This is a slump in performance for Ethereum (ETH) in the 2025 crypto market cycle, down 10.35% over the past week.
Whale has purchased over 420,000 #ethereum $eth in the last 5 days! pic.twitter.com/zff57gbq0e
– Ali (@Ali_Charts) March 14, 2025
In addition to the mixed signal, the US Spot ETH ETF recorded a $350 million spill on Friday. According to SoSoValue, BlackRock’s Etha saw the highest leak of $36.37 million.
Pectra Upgrade and Testnet Development
Ethereum is preparing for Pectra, the next major upgrade aimed at increasing scalability and staking flexibility. A new testnet named Hoodie is scheduled to be released on Monday, March 17th. This follows previous testnets and sepolia, which have encountered technical challenges, particularly with invalid blocks.
ACDE Summary
The new testnet, Hoodie, will be released on Monday to close out the Pectra test. Keep an eye out if you need to test your Valitter exit! Everything else can be tested with Sepolia and Holesky.
Pektra successfully scheduled more than 30 days after hoodie fork and holds infra…pic.twitter.com/fk05gmtpnk
– Timbeiko.eth (@timbeiko) March 13, 2025
Related: Vitalik Buterin’s Ethereum six-month roadmap: faster, fairer, AI and
If successful, Pectra will be able to perform a live performance on the mainnet on April 25th. Upgrades are a critical step to increasing Ethereum’s Layer 2 storage capacity, reducing transaction fees and improving network efficiency.
However, the market’s response to this news has been lukewarm, with ETH appearing only 1.8% increase in the last 24 hours, CoinmarketCap shows.
ETH Price: Important Weekend Levels
At the time of reporting, the ETH is $1,930.19. From a technical standpoint, ETH’s relative strength index (RSI) is around 33.29, approaching territory with oversold territory.
The line slope suggests a potential retest of a price level of $2,000 in the near future, according to the daily chart below.
Additionally, the Bollinger Band (BB) shows that it trades for $1,741 near bands with low ETH. This is potential support for cryptocurrency. Bounce towards the middle band ($2,157) or upper band ($2,574) can be on your card when you buy momentum.
Related: Ethereum prices are rising, but this analyst is still seeing the problem
Another big resistance in ETH is the 20-day exponential moving average (EMA), which is $2,154. This means that ETH must go beyond this level and see bullish momentum. This makes trading this weekend even more important.
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