TLDR
- Ethereum accumulation wallets have added 1.11 million ETH to their holdings over the past week
- ETH price currently sits at $1,760 after declining 1% on Friday
- Thursday saw large exchange inflows of 178,900 ETH as some investors took profits
- Price faces strong resistance at the $1,800 level and 50-day Simple Moving Average
- Technical indicators suggest slowly returning bullish momentum despite recent selling
Ethereum (ETH) is trading at approximately $1,760 as of Friday, having declined by 1% in the past 24 hours as sellers remained active across exchanges. Despite this short-term pressure, multiple indicators suggest a gradual return of bullish sentiment to the second-largest cryptocurrency by market capitalization.
The price has been consolidating after reaching a local high of $1,834 earlier this week. This pause follows a period of recovery since ETH found support at $1,473 on April 11, which many analysts now consider a potential local bottom.
On-chain data reveals that Ethereum’s long-term investors are taking advantage of current price levels to increase their holdings, even as short-term traders appear to be booking profits.
Accumulation Wallets Signal Growing Confidence
Ethereum accumulation addresses – defined as wallets that have only ever received ETH and never spent any – have shown remarkable activity over the past week. Between April 17 and 23, these addresses purchased more than 1.11 million ETH, with nearly half of these purchases occurring after Tuesday’s price increase.
This represents the highest weekly inflow to accumulation addresses recorded so far in 2025. The pattern suggests growing confidence among long-term ETH investors despite recent market volatility.
At the same time, exchange data indicates some opposing forces at work in the market. Ethereum saw one of its largest single-day exchange net inflows of 2025 on Thursday, with approximately 178,900 ETH (valued at around $317 million) moving onto exchanges.
Such exchange inflows typically indicate potential selling pressure, as investors move their assets to trading platforms. This selling often comes from short-term traders or investors who are looking to exit positions as prices return to their break-even points after a period of decline.
Technical Picture Shows Mixed Signals
The battle between buyers and sellers is clearly reflected in Ethereum’s technical indicators. ETH is currently trading above its 100-hourly Simple Moving Average with a bullish trend line forming support around the $1,780 level on hourly charts.
However, the cryptocurrency has faced rejection at the psychologically important $1,800 level, which coincides with the 50-day Simple Moving Average. This dual resistance has proven difficult to overcome in recent trading sessions.
The Stochastic Oscillator has now moved out of overbought territory after spending two days there. The Relative Strength Index remains above its neutral level, while the Awesome Oscillator shows receding histogram bars below its neutral line. Together, these indicators suggest modest but positive momentum.
ETH futures markets recorded $40.22 million in liquidations over the past 24 hours, according to data from Coinglass. Long positions accounted for $27.07 million of these liquidations, while short positions made up $13.16 million, indicating more bullish traders were forced to close positions.
Market Structure and Key Levels
For traders and investors watching Ethereum’s next move, several key price levels have emerged. The current resistance at $1,800-$1,820 represents the immediate hurdle. If bulls can push above this zone, the next targets would be $1,880 and potentially $1,920.
A successful break above these levels could potentially see ETH challenge the upper boundary of its descending channel pattern, potentially opening the path toward the $2,000 psychological level and the $2,100-$2,200 resistance range.
On the support side, the first key level sits near $1,780, followed by stronger support at $1,740. Should these levels fail to hold, ETH might test lower supports at $1,700 or the 50% Fibonacci retracement level of the recent upward move. Below that, $1,665 and $1,620 represent the next support zones.
One positive sign for bulls comes from Ethereum’s net taker volume data. This metric shows the difference between buying and selling volume in futures contracts. While shorts have dominated ETH futures markets over the past six months, the negative net taker volume has been steadily decreasing since January.
This reduction in selling pressure, even during periods when ETH’s price was falling, suggests seller exhaustion may be setting in – a potentially bullish signal for the medium term.
In other developments, Ethereum is approaching its 10th anniversary since the genesis block was mined on July 30, 2015. The Ethereum Foundation has announced plans to work with community members to organize “a series of global meetups, on-chain artifacts, and a live stream to ring in the next decade of Ethereum together.”
The coming days will be crucial for determining Ethereum’s short-term price direction. The cryptocurrency needs to overcome the $1,800-$1,820 resistance zone to confirm a bullish trend change. Failure to do so could result in continued consolidation or a retest of lower support levels.
As the market watches for Ethereum’s next move, the contrast between accumulation address behavior and exchange inflows presents an interesting dynamic between long-term and short-term market participants.
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