Ethereum (ETH) saw a 1% decline on Friday as sellers dominated exchange activity over the past 24 hours. Despite this short-term pressure, rising inflows into accumulation addresses and declining net sell pressure signal a gradual return of bullish momentum. Investors are watching key technical levels closely, while long-term holders continue to demonstrate confidence through sustained accumulation.
Ethereum Accumulation Addresses Show Strong Confidence
An important on-chain metric—Ethereum accumulation addresses—has revealed growing investor conviction. These are wallet addresses that have never spent their ETH holdings, often representing long-term "hodlers" or strategic investors. Between April 17 and April 23, over 1.11 million ETH flowed into such addresses, marking the highest weekly inflow in 2025 so far.
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Nearly half of this inflow occurred on Tuesday, following a sharp price rebound. This surge in accumulation suggests that institutional and whale investors view recent price dips as buying opportunities. The data, sourced from CryptoQuant, underscores a shift in sentiment: while retail traders may be cashing out, deeper-pocketed players are quietly accumulating.
This trend aligns with another positive indicator: declining net outflows in ETH futures markets. Net buy volume reflects the difference between buy and sell orders in derivative contracts. Although bearish sentiment dominated ETH futures over the past six months—coinciding with price declines—the negative net buy volume has been steadily shrinking since January.
The reduction indicates weakening selling pressure. Traders who previously bet on further downside are now hesitating, especially after ETH found support near $1,473 on April 11. Many analysts now see that level as a potential bottom for the current cycle.
Exchange Inflows Signal Short-Term Profit-Taking
Despite growing accumulation off exchanges, investor behavior on trading platforms tells a different story. On Thursday, Ethereum experienced one of its largest single-day net inflows of 2025, with approximately 178,900 ETH (valued at around $317 million) moved into exchanges—a sign of rising sell-side pressure.
Net exchange inflow measures the difference between ETH deposited to and withdrawn from exchanges. A positive value typically indicates investors preparing to sell, either to take profits or exit positions. This movement coincided with broader market strength, suggesting short-term traders capitalized on the rally to lock in gains.
As a result, ETH briefly dipped below $1,750 before recovering slightly. Such profit-taking is common after extended consolidation or downtrends, particularly when price approaches breakeven points for earlier buyers. It reflects caution rather than panic but highlights resistance to sustained upward momentum in the near term.
Ethereum’s 10th Anniversary Sparks Community Momentum
Beyond technicals and on-chain flows, Ethereum is gaining momentum from a major milestone: its 10th anniversary. On July 30, the network will celebrate the launch of its genesis block. The Ethereum Foundation (EF) has announced plans to collaborate with community members on a global series of events, on-chain memorabilia, and live broadcasts to commemorate the occasion and set the stage for the next decade.
This anniversary could serve as a psychological catalyst, drawing renewed attention from developers, investors, and institutions. With upgrades like Pectra enhancing scalability and staking efficiency—and growing adoption of spot Ethereum ETFs—the ecosystem is better positioned than ever for mainstream integration.
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Frequently Asked Questions (FAQ)
Q: What are Ethereum accumulation addresses?
A: Accumulation addresses are wallets that have never spent their ETH. They are used as a proxy for long-term holder confidence. Rising inflows suggest strong conviction in future price appreciation.
Q: Why are exchange inflows bearish signals?
A: When large amounts of ETH are sent to exchanges, it often precedes selling activity. Exchanges act as on-ramps for traders looking to liquidate holdings, so net inflows can indicate profit-taking or fear.
Q: Is $1,473 a confirmed bottom for ETH?
A: While not guaranteed, many analysts treat $1,473 (April 11 low) as a potential support level. The combination of reduced futures selling pressure and increased accumulation supports this view.
Q: How do net buy volumes affect price direction?
A: Declining net sell volume—even in a bearish market—signals weakening bear control. As fewer traders open short positions, downward momentum slows, creating conditions for a reversal.
Q: What role do ETFs play in Ethereum’s price outlook?
A: Spot Ethereum ETFs increase institutional access and demand. Recent upgrades like Pectra allow these funds to earn staking yields without sacrificing liquidity, making them more attractive to large investors.
Q: Can ETH break above $1,800?
A: Yes, if it holds above $1,688 and regains momentum. A breakout above $1,800—especially if accompanied by falling exchange reserves—could open the path toward $2,000 and beyond.
Technical Outlook: Testing Key Resistance at $1,800
Over the past 24 hours, Ethereum saw $40.22 million in futures liquidations, with longs accounting for $27.07 million and shorts $13.16 million. The dominance of long liquidations reflects fragile bullish sentiment amid volatile swings.
Price action remains constrained by resistance at $1,800**, reinforced by the 50-day Simple Moving Average (SMA). Repeated rejection at this level suggests lingering bearish pressure. However, if ETH sustains above **$1,688, it may retest $1,800 and challenge the upper boundary of its current descending channel.
A confirmed breakout could propel ETH toward **$2,000**, followed by resistance between **$2,100 and $2,200**. Conversely, failure to hold $1,688 might see a pullback toward the key descending trendline for support.
Indicators offer mixed signals:
- The Stochastic Oscillator (Stoch) pulled back from overbought territory after two days.
- The Relative Strength Index (RSI) remains above neutral (50), indicating underlying strength.
- The Awesome Oscillator (AO) shows weakening bullish momentum with declining histogram bars below zero.
Together, these metrics suggest modest bullish dominance but highlight the need for stronger follow-through before any sustained rally can be confirmed.
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Conclusion
Ethereum stands at an inflection point. While short-term traders take profits amid volatility, long-term holders are actively accumulating—absorbing supply and reducing downward pressure. On-chain data reveals weakening bear control and renewed institutional interest ahead of Ethereum’s 10-year milestone.
With technical indicators stabilizing and ETF-related developments boosting fundamentals, the path toward $2,000 appears increasingly viable—if bulls can overcome resistance at $1,800 and sustain volume-backed momentum.
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