Ethereum holds $2.2k support as bullish momentum builds while whale accumulation slows

Ethereum is showing early signs of recovery as momentum indicators turn bullish, with the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) both improving. At the same time, whale accumulation appears to be slowing, adding uncertainty to the next market move.

Capital inflows and easing supply pressure support ETH

CryptoQuant said Ethereum is benefiting from capital inflows, reduced supply pressure, and steady ecosystem growth. Together, these factors are positioning ETH as relatively stronger in the current market phase.

Source: CryptoQuant.com

Price action reflects this shift. Ethereum has rebounded from February lows near the $2,000 level and has since stabilized between $2,150 and $2,300, forming a consolidation range. The latest daily candle closed at $2,243.7, up 2.46%.

RSI and MACD turn positive, but resistance remains overhead

Technical indicators are improving. The RSI is at 60.05, above the neutral 50 level, signaling stronger momentum after earlier oversold conditions earlier in the year.

MACD has also turned positive. The MACD line remains above the signal line, while the histogram continues expanding in positive territory—an indication of strengthening bullish momentum following a prolonged bearish phase.

Despite the improving indicators, Ethereum is still trading below nearby resistance between $2,250 and $2,300. A sustained move above this zone is needed to confirm a broader recovery trend. Until then, the market remains range-bound.

Whale accumulation slows, shifting attention to the next direction

While technical signals point to improving conditions, whale behavior is changing. According to CW, the rate of Ethereum accumulation by large holders is slowing, which may indicate the recent accumulation phase is nearing an end.

“The pace of Ethereum accumulation by large whales is slowing.”
— CW

If accumulation is concluding, the next phase could involve a shift in how large holders act—either moving into distribution or preparing for a new directional move. Historically, accumulation periods can precede upward price action, but they can also mark transition points where large holders begin selling at higher levels, increasing uncertainty.

Key levels: support near $2,100; resistance toward $2,300 and beyond

Ethereum’s broader trend remains shaped by its earlier decline from near $5,000 in August 2025, when the asset formed consistently lower highs and lower lows before reaching its February bottom. That larger downtrend continues to frame current price action.

Support is described as firm around $2,100, with the $2,000 level acting as a psychological floor. On the upside, resistance extends beyond $2,300 toward $2,800 and $3,000, areas where previous breakdowns occurred.

Outlook: consolidation dominates until momentum is sustained

For now, Ethereum continues to trade sideways within its current range. The near-term structure reflects a balance between recovering demand and cautious sentiment. Traders are watching for whether buyers can sustain momentum above current levels; without that, consolidation is expected to remain the dominant short-term pattern.