Ethereum analysis
Addresses accumulating Ethereum have acquired over 1.11 million ETH in the past week.
The current price of ETH is about $1,760 following a recent 1% drop.
Net inflows to exchanges registered at 178,900 ETH on Thursday as traders realized profits.
The cryptocurrency encounters resistance around the $1,800 mark and the 50-day SMA.
Despite recent selling pressure, technical indicators exhibit moderate bullish momentum.
Ethereum (ETH) is presently trading around $1,760, reflecting a 1% drop on Friday as sellers led exchange transactions over the last 24 hours. Nevertheless, potential signs of renewed bullish momentum are emerging, highlighted by the increase of holdings in accumulation addresses and metrics indicating seller fatigue.
The price of Ethereum has demonstrated resilience, discovering support close to $1,473 on April 11, which some analysts regard as a possible price floor. The cryptocurrency has rebounded since then but continues to face formidable resistance at the $1,800 threshold.
ETH initiated a new rally above $1,750 earlier this week, achieving a peak of $1,834 before entering a phase of consolidation. The price remains stable above $1,720 and the 100-hourly Simple Moving Average, indicating underlying strength despite recent profit-taking activities.
Accumulation Addresses Exhibit Renewed Confidence
One of the most encouraging indicators for Ethereum stems from accumulation addresses – wallets that have never utilized their funds. These addresses have displayed heightened confidence in the past week, acquiring over 1.11 million ETH between April 17 and April 23.
Approximately half of these inflows were recorded following the price surge on Tuesday. This represents the highest weekly inflow into accumulation addresses in 2025, indicating a resurgence of bullish sentiment among long-holding ETH investors.
The consistent accumulation transpired despite exchange data highlighting that investors took profits amid the recent price surge. On Thursday, Ethereum exchanges experienced one of the largest single-day net inflows for 2025, with investors transferring around 178,900 ETH (amounting to about $317 million) onto exchanges.
This selling activity during a price increase after weeks of consolidation typically originates from short-term traders or investors cutting losses as prices retrace to their cost basis.
Technical Indicators Suggest Bullish Momentum
Technical indicators for Ethereum are providing a mixed yet generally favorable outlook. The cryptocurrency is trading above its 100-hourly Simple Moving Average with a bullish trendline forming support at $1,780 on the hourly chart.
The Stochastic Oscillator has receded from the overbought zone after being there for two days. Simultaneously, the Relative Strength Index remains above its neutral threshold, while the Awesome Oscillator has continuously reported decreasing histogram bars below its neutral mark.
These indicators imply a modest area of bullish momentum, although the cryptocurrency is clearly facing impediments at elevated levels.
Major Support and Resistance Levels
Ethereum is currently experiencing resistance at the $1,800 mark, which is further reinforced by the 50-day Simple Moving Average. Should ETH overcome this barrier, it could potentially breach the upper limit of a descending channel pattern.
This movement might position ETH to reclaim the psychologically significant $2,000 mark and possibly contend with the resistance zone between $2,100 and $2,200.
Conversely, initial support is located around $1,780, with stronger support at $1,740. If these levels fail, ETH could test lower support at $1,700 or even $1,665. The subsequent key support level beneath that stands at $1,620.
Ethereum underwent $40.22 million in futures liquidations over the past 24 hours according to Coinglass data. The combined amount for long and short liquidations was $27.07 million and $13.16 million, respectively, indicating that more bullish positions were exited than bearish ones.
Net taker volume data provides another encouraging sign for Ethereum. While shorts have predominantly influenced ETH futures over the past six months, the negative net taker volume has been steadily diminishing since January. This highlights that sellers are gradually experiencing fatigue, despite ETH’s price decrease during much of this timeframe.
In other developments, Ethereum will be marking its 10th anniversary since the genesis block on July 30. The Ethereum Foundation announced plans to collaborate with community members to support and sponsor “a series of global meetups, on-chain artifacts, and a live stream to celebrate the upcoming decade of Ethereum together.”
The next few days will be pivotal for Ethereum’s price trajectory. If bulls can push above the $1,820 resistance, ETH could aim for $1,880 and potentially $1,920. Conversely, failing to uphold support levels could lead the cryptocurrency to re-examine lower support zones in the $1,700-$1,665 range.
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