Recent on-chain data reveals a surge in Ethereum (ETH) whale activity, signaling potential bullish momentum. As whales accumulate Ether and market confidence increases, the price has witnessed a resurgence past $1,700, after weeks of correction. 24-hour trading volume for ETH surged to over $20B on Tuesday, April 22nd. This trend may continue as Ethereum maintains its bullish trajectory against Bitcoin (BTC) and outperforms Solana. However, the market’s outlook isn’t solely defined by price movements. The increasing tokenization of real-world assets on the Ethereum network is boosting activity and attracting more investor attention. For example, Lookonchain reports a substantial whale accumulation totaling 48,477 ETH from exchanges since February 15th, even though they currently hold a loss of over $21 million. Meanwhile, cash outflow from U.S. spot Ether ETFs has been declining recently, indicating growing market confidence. With the price above $1,500 for two weeks and now breaking through a historical logarithmic downtrend, a bullish market reversal is highly likely. Technical indicators such as the daily MACD approaching the bullish flippening zone and RSI forming positive divergence suggest a potential shift in momentum. A consistent close above 50% on the RSI would confirm this bullish trend.