The post ETH Sees Record Accumulation But Faces $1895 Resistance Level appeared on BitcoinEthereumNews.com.

449k ETH added by holders despite price dip $2,142 is seen as a critical recovery target Ethereum’s highly anticipated Pectra upgrade is scheduled to go live on May 7 A few days ago, Ethereum saw a historic single-day inflow of 449,000 ETH into accumulation addresses – wallets that have never spent funds. This marks the highest daily inflow since 2018, suggesting that these Ethereum whales are optimistic about Ethereum’s future, even though many remain underwater with a realized price of $1,981. This means that the purchased prices are higher than the current market price. Despite short-term losses, these holders are not panicking, and they remain convinced of Ethereum’s long-term potential. ETH Struggles at $1,895 Resistance Judging by technical analysis, Ethereum faces big resistance at $1,895, where approximately 1.64 million ETH is held by investors from November 2024. A decisive close above $2,142 is needed to break the current pattern of declining highs and lows, which would signal a potential bullish reversal. Also, active Ethereum addresses have increased by 10%, indicating growing network engagement. However, DeFi activity remains subdued, with declining DEX volumes. There’s been some major whale activity lately as well. A long-term Ethereum holder recently moved $27.6 million worth of ETH after over 900 days of inactivity. The move caused a short-term dip in Ethereum’s price, but it didn’t last long before the cryptocurrency stabilized.  A Sign of Good News? Despite Ethereum trading approximately 57% below its all-time high of $4,100, the recent accumulation by long-term holders and increased network activity might suggest a foundational confidence in its long-term value. Then, upcoming upgrades such as the Pectra upgrade could also play a role in boosting Ethereum. Scheduled to release on May 7 on the mainnet, it aims to enhance scalability, reduce transaction fees, and improve staking efficiency. Short-Term Outlook:…

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Filed under: News - @ April 26, 2025 2:21 am