The Ethereum community is closely monitoring the cryptocurrency's potential for reaching a new all-time high, despite recent underperformance compared to other altcoins. A key factor influencing this trajectory is the subdued interest from large investors or "whales."

There are growing concerns within the Ethereum community regarding the lackluster volume of large-scale transactions. According to IT Tech, an analyst on the CryptoQuant platform, this could indicate a waning interest among major investors.

Despite some upticks, the absence of strong whale activity suggests that high-net-worth investors and institutions remain cautious, as evidenced by low major Ethereum transfers.

Historically, similar cycles in 2017 and 2021 were characterized by bustling large transactions, unlike the current market where such dealings are minimal. This has led to a market environment driven more by individual retail investors rather than speculative exuberance. Although there have been slight increases in whale activities, these haven't reached levels that would indicate significant market movements. IT Tech advises investors to watch out for sudden changes in whale activity, which often signal impending price shifts.

While Ethereum is on a steady upward path, its market dynamics remain heavily dependent on whale transactions. The cryptocurrency recently surpassed the $3,000 mark following a general market rebound, setting $3,500 as the next key resistance level. However, IT Tech warns that without a rise in large-scale transactions, Ethereum could either consolidate or experience a pullback.

A potential retreat could see ETH fall back to $2,800 or $2,500, especially if large transactions coincide with declining prices, possibly triggering whale sell-offs. This raises questions about Ethereum's sustainability in the current climate and casts uncertainty over its next significant price action.

Ethereum is currently trading between $3,000 and $3,200 with slight upward momentum. According to market expert Titan of Crypto, a potential uptrend may be imminent, driven by a breakout from a Falling Wedge pattern along with a looming RSI bullish divergence. While there is upside potential, Titan of Crypto cautions that increased volatility may follow post the recent FOMC meeting, suggesting market dynamics could shift rapidly in the near term.