TL;DR

Long-term Ethereum (ETH) investors have increased their holdings by 22.5%, taking advantage of lower prices and improving their overall positions.
Despite the recent correction, most accumulator addresses have not sold, showing strong long-term confidence and unwavering commitment to the asset.
Although the market remains uncertain, analysts suggest that Ethereum could be on the verge of a bullish breakout if the right catalysts emerge, which could lead to significant further price growth.

Despite the big correction Ethereum has experienced since its cycle high of $4,107 in December 2024, on-chain data from CryptoQuant paints an optimistic picture among long-term investors. These holders have taken advantage of the price drop to increase their holdings by 22.5%. Ethereum’s price hit a low of $1,866.70 on March 10, 2025, leading many accumulator addresses into unrealized loss territory. However, rather than selling their assets, these investors have increased their purchases, reducing their realized price from $2,026 to $1,980 between March and May.

This behavior reflects strong conviction in Ethereum’s future, despite the ongoing market uncertainty. In fact, long-term addresses that have consistently accumulated (for over 155 days) have chosen to hold their positions, even with the possibility of ETH’s price continuing to fluctuate. The underlying confidence in Ethereum’s potential growth and its technological development remains really strong.

The Price Correction Continues, but Investor Sentiment Remains Optimistic

The beginning of May has been turbulent for Ethereum, which started the month above $1,800 but has struggled to maintain its bullish momentum. Despite reaching a local high of $1,873 on May 3, ETH has not been able to break through resistance zones and is currently trading below $1,820. Technically, indicators suggest a short-term downtrend, with a resistance line around $1,835. The main concern now is whether Ethereum will be able to stay above the support range between $1,772 and $1,824, where over 4.5 million addresses acquired more than 6.36 million ETH.

With ETH’s price currently at $1,795.76, down 1.82% in the last 24 hours, attention is focused on whether Ethereum can break through its resistances and continue its journey toward new highs.

However, some analysts maintain an optimistic stance. If Ethereum manages to break through this support zone and reach $1,840, followed by a breakout to $1,880, the ETH’s price could be on track to recover $2,000. This would signal that the downtrend might be nearing its end, but momentum must be strong enough to sustain the upward movement.

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Filed under: News - @ May 5, 2025 4:28 pm