Ethereum has been unable to break the $2,698 resistance level for six weeks, keeping the asset in consolidation. However, whale accumulation continues, signaling strong confidence in the asset. Over the past month, whales have added over 600,000 ETH (about $1.57 billion), which could support a potential rally toward $3,000.
The Relative Strength Index (RSI) remains bullish, indicating room for further growth without the risk of a major correction. Breaking the $2,698 resistance could pave the way for Ethereum to strengthen further.