- Ethereum accumulation addresses absorbed $592 million worth of ETH on Wednesday, signaling aggressive long-term buying.
- Technical analysis suggests Ether’s price could rally toward $3,315 upon breaking key resistance.
- Whale wallets holding 10,000-100,000 ETH have increased their holdings to a record 19.5 million tokens.
Ethereum accumulation addresses witnessed a surge in daily inflows on Wednesday, suggesting growing confidence in Ether’s long-term price trajectory following its latest rise to $2,400. Data from CryptoQuant showed these addresses received 246,620 ETH, worth approximately $592 million at current rates.
These wallets, which continuously receive ETH without making outgoing transactions, now hold a record 25 million ETH. Consequently, the total ETH held by these long-term holders reached a record 25 million ETH, marking a 20.36% jump so far in 2026. Large spikes in inflows to these addresses have frequently preceded price rallies in the past.
Meanwhile, whale wallets are also showing bullish accumulation signals. Wallets with balances of 10,000-100,000 ETH have seen their holdings rise to an all-time high of over 19.5 million tokens.
From a technical perspective, the ETH/USD pair is testing the horizontal trend line of an ascending triangle at $2,400. A daily candlestick close above the 200-day exponential moving average at $2,700 would confirm an uptrend toward a measured target of $3,315.
Crypto analyst CW8900 said in a Wednesday post on X, “If $ETH breaks through $2,500, a steady rise to $3,000 will follow.” Technical analyst XForceGlobal shared a chart suggesting that Ether’s macro bottom could be in, projecting a rally to $3,500 once key resistance is broken.
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