Ether Accumulation Surges 33% as Technicals Signal Potential Rally Toward $3,000

Ether (ETH) is demonstrating strong bullish momentum, with prices recently climbing to $2,400, marking a 38% recovery from its swing low of $1,750. This price action is supported by a surge in network utility; daily active addresses jumped 89% to 730,278 on April 5, a trend historically associated with macro bottoms and subsequent rallies. On-chain metrics indicate a shift toward long-term holding. Accumulation wallets—those with no history of selling—have increased by 6.5 million ETH since January 1, reaching a total of 26.16 million, a 33% increase. Daily inflows into these addresses have averaged 200,000 ETH throughout 2026, with a recent spike to 358,000 ETH on Thursday. Market liquidity is tightening as ETH supply held on exchanges hits multi-year lows. This is further reinforced by the total value of staked ETH, which currently stands at 39.2 million, signaling sustained investor confidence in the network's long-term outlook. From a technical perspective, ETH has formed a cup-and-handle pattern. A sustained 12-hour close above the $2,400 neckline could trigger a move toward a primary target of $2,960. Analysts also note a larger daily timeframe formation that could push the asset toward $3,150. With the Relative Strength Index (RSI) currently at 68, bulls appear to be in control. However, traders suggest that maintaining the $2,350 to $2,400 support zone is critical to confirming a sustained upward breakout.