Key Notes
- Institutional investors drove ETH’s recovery with $291 million in net ETF deposits recorded across two consecutive sessions.
- Tom Lee-linked wallets accumulated $185.6 million worth of Ethereum this week, reinforcing bullish momentum across markets.
- Technical analysis shows a falling wedge pattern projecting potential 53% rally to $4,600 if price sustains above $3,150.
Ethereum
ETH
$3 043
24h volatility:
0.4%
Market cap:
$367.37 B
Vol. 24h:
$20.19 B
price reclaimed the $3,000 level on Friday, rising 17% from the weekly low of $2,620 logged on November 21.
The recovery has been driven primarily by institutional flows, with US Ethereum ETFs posted $291 million in net deposits over back-to-back sessions since November 21, according to FardiseInvestors data.
ETF demand has revived discretionary buying across derivatives and spot markets. Strategy-focused investors also returned to accumulation mode.
Arkham reported on Friday that Tom Lee–linked wallets saw another $44.3 million ETH inflow into Bitmine-linked wallets, pushing total weekly purchases to $185.6 million. These renewed inflows have propelled Ethereum double-digit price recovery as it reached intraday peaks near $3,070 on November 28.
TOM LEE IS STILL BUYING ETH
Bitmine’s wallets just saw inflows of $44.3M ETH, and have purchased $185.6M ETH over the past week.
Tom Lee believes that 2026 will be bullish for $ETH. pic.twitter.com/dVt5j9FJKm
— Arkham (@arkham) November 28, 2025
In a press release on Nov 24 confirming its annual shareholders meeting for January 2026 in Las Vegas, Lee emphasized Ethereum’s strong short-term support at $2,500. He also made a bold prediction that Ethereum price could be poised for an imminent supercycle.
Ethereum Price Forecast: Can Bulls Trigger a Breakout Toward $4,600?
Institution-driven inflows have powered a 17.8% Ethereum price rebound over the past eight days, while a clearly defined falling-wedge structure now outlines a potential 50% upside move. A falling wedge is a bullish reversal pattern that forms when price compresses between downward-sloping trendlines, signaling weakening seller control and an eventual breakout to the upside.
Ethereum (ETH) Technical Price Analysis | Source: TradingView
As ETH approaches the next major resistance cluster beneath the Keltner Channel middle band at $3,108, momentum indicators are firming. MACD has crossed into positive territory, and Woodies CCI has reclaimed the zero line with a sequence of higher lows, reflecting improved liquidity and market sentiment.
A daily close above the mid-wedge resistance zone at $3,150–$3,200 would confirm a full bullish breakout. If validated, the completed wedge resolution projects a measured move toward $4,500–$4,600, marking a 53% advance from current ETH prices.
However, the bullish setup weakens if ETH price loses its $2,880 support shelf. A breakdown below that level risks momentum compression and could force a retest of $2,744 near the lower Keltner boundary, which would invalidate the upside scenario.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
