ETH price eyes rally to $3,000 as Ether holders return to profitability

Ether rebounded sharply over the weekend, with the token rising to around $2,330 after hitting a local low of $1,940 on March 29. The move has put large investors back into profit and has reignited speculation about whether ETH can rally toward $3,000.

Price rebound and what drove it

TradingView data shows Ether’s price rose 20% to $2,330 on Saturday from its March 29 low of $1,940. The recovery was attributed to the US and Iran’s announcement of a two-week ceasefire and a strengthening market structure.

As the rebound gained traction, CryptoQuant data indicated that ETH “whales” returned to profitability.

Whales return to profit as accumulation rises

CryptoQuant analyst CW8900 said that wallets holding more than 100,000 ETH are profitable again, citing the “unrealized profit ratio.” In a Quicktake note, CW8900 added that, historically, every point where these wallets shifted from loss to profit aligned with the start of major rallies.

The shift in whale profitability also coincided with accumulation activity at lower levels. CryptoQuant data shows that ETH accumulation began in late 2025 and accelerated more aggressively throughout 2026.

Accumulation addresses are wallets that continuously receive ETH without making outgoing transactions. They may include long-term holders, institutional investors, or entities accumulating Ether rather than actively trading it.

Record holdings among long-term holders

CryptoQuant data shows the total ETH held by long-term holders reached a record 26.3 million. That figure represents a 32% increase in 2026, even as ETH price declined by 25% over the same period.

The article also noted that large spikes in inflows to accumulation addresses have previously been associated with strong confidence and have often preceded price rallies.

For example, on June 22, 2025, Ethereum accumulation addresses recorded a then-all-time high daily inflow of over 380 million ETH. Nearly 30 days later, ETH price rallied by almost 85%. A similar pattern followed a November 2025 inflow spike, which was followed by a comparable price increase.

Technical setup: potential path toward $3,000

On the 12-hour chart, Ether has formed a rounded bottom pattern and is retesting the $2,140 support level. The support area is where the chart’s support line and the 20-day exponential moving average converge.

Bulls are attempting to push ETH/USD above the neckline of the rounded bottom pattern at $2,400. If that level is reclaimed, the measured target cited in the article is $2,940, about 32% above the current price.

Momentum indicators are also improving. The daily relative strength index (RSI) rose to 57 from near-oversold levels at 36, suggesting ETH bulls are returning to the market.

Potential resistance from investor cost basis

Despite the bullish setup, cost basis distribution data points to a potential resistance zone. The article states that investors hold about 7.6 million ETH at an average cost between $2,750 and $2,850, which could encourage selling near breakeven and potentially slow upward momentum.

Market impact and analyst views

Analyst TagadoBTC said in a recent X post that Ether is heading toward its next major resistance at $2,800. TagadoBTC added that the $2,000 zone remains important to hold, otherwise ETH could fall back toward the bottom of the channel.

As reported by Cointelegraph, Ether’s rally potential improves if the altcoin breaks above the $2,400 resistance level. If that occurs, the ETH/USDT pair may surge to $2,800.