Ethereum (ETH) Preparing to Hit $7K? Wyckoff and Whales agree

Ethereum Holds $3K As Wyckoff Structure Approaches Breakout Phase; Analysts are looking at $5K-$7K if $4K turns around.

Wyckoff pattern nearing completion

Bitcoinsensus has shared a monthly chart that follows the Wyckoff Accumulation Schematic. Based on the chart, Ethereum is in the final phase of the pattern, moving from Phase C to Phase D. The recent uptick in the Last Point of Support (LPS) indicates renewed demand.

At the time of writing, Ethereum has a price of around $3,100. A move above $4,000 would be considered a sign of strength (SOS) under Wyckoff rules. If that breakout holds, the next targets could be between $5,000 and $7,000. This range reflects the projected movement after a complete accumulation cycle.

$ETH MONTHLY ACCUMULATION ALMOST COMPLETE 📊

Wyckoff Phase C ➝ D-transition unfolds

Strong recovery of LPS signals calls for return

💥 Break above $4K = SOS confirmation → $5K–$7K goal?#Ethereum #Wyckoff pic.twitter.com/AgWrq0UN14

— Bitcoinsensus (@Bitcoinsensus) January 8, 2026

In addition, analyst Egrag Crypto presented an inverted Ethereum chart to compare the current price structure to previous cycles. He noted that each cycle shows longer accumulation with less volatility. He explained: “A ‘drop’ here = ETH breakout on the real chart,” because of the inversion of the visual.

Its chart outlines an initial resistance zone between $3,800 and $4,500. If these levels turn into support, the $6,000 to $7,500 area becomes possible. He added that the only risk case would be a retest of the $1,800-$2,200 area before a breakout.

Moreover, the short-term structure remains intact if Ethereum maintains the $3,000 level. according to to Merlijn De Handelaar. He noted that a rise above $3,360 could trigger a move towards $3,600. The current pullback is considered part of a normal range.

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Whale ownership indicates strategic accumulation

Merlin The Trader shared data showing that asset portfolios increased their balances by 10,000 to 100,000 ETH. This trend started in 2025 after years of decline in whaling. The rise has continued even as the price remains near $3,000.

“This is not momentum chasing. This is strategic positioning,” he said. “Distribution takes place at the top. Accumulation takes place before moves.”

Meanwhile, lower ETH balances on exchanges, now below 16.5 million per CryptoQuant, are contributing to this view. Reduced exchange supply eases short-term selling pressure.