Ethereum price trends are drawing attention after new on chain data showed a sharp rise in long term accumulation while technical charts point to resistance pressure in the short term. Together, the data highlights a market where large holders continue adding $ETH even as price struggles near key trading levels.
Ethereum Accumulation Addresses Surge as Whale Holdings Climb Sharply
Ethereum accumulation wallets have expanded rapidly in recent months, according to on chain data shared by CryptoQuant and highlighted by market analyst James Easton on X. The chart titled “$ETH: Balance on Accumulation Addresses” shows a steep increase in the total $ETH held by long term accumulation wallets. These addresses typically belong to entities that consistently add to their positions and rarely move funds to exchanges.
$ETH Balance on Accumulation Addresses. Source: CryptoQuant
The data shows that accumulation balances rose gradually from 2018 through 2023. However, the trend accelerated strongly during 2025 and early 2026. The total $ETH held in these addresses climbed from below 10 million coins to well above 24 million. During the same period, Ethereum’s price moved through several cycles but did not rise at the same pace as the accumulation curve. This divergence suggests that large holders increased their positions while price fluctuations continued across the broader market.
James Easton noted that whale accumulation has recently turned “vertical,” referring to the sharp upward slope visible on the accumulation balance line. The chart shows a particularly strong surge toward the far right side, indicating a rapid increase in wallet balances. While price action shows normal volatility across the same timeframe, the accumulation metric continues trending upward without major drawdowns. As a result, the data highlights sustained capital concentration among long term Ethereum holders even as market conditions shifted across multiple cycles.
Ethereum Rejects Range Resistance as Chart Points to Possible Pullback Toward Lower Support
Meanwhile, Ethereum’s recent price structure shows a rejection near a key resistance band on the four hour chart shared by analyst Kamran Asghar on X. The chart outlines a horizontal range where the upper boundary repeatedly acts as resistance while the lower boundary serves as support. Each time price approaches the upper line, selling pressure appears and pushes the market back into the range.
Ethereum / U.S. Dollar 4H Chart. Source: Kamran Asghar
The latest move follows the same pattern. Ethereum rallied toward the resistance level and briefly traded above it. However, the move failed to hold. The chart highlights this rejection with a marked area near the top of the range, where candles quickly reversed direction. After that rejection, price pulled back toward the middle of the range instead of continuing upward.
At the same time, the chart shows a nearby support zone slightly below the current trading area. This zone previously acted as a short term demand area where buyers stepped in to slow declines. The analyst notes that a small bounce could occur if price tests this region again. However, the broader structure in the chart still points to the lower boundary of the range as the next major support level.
The projected path on the chart shows a potential upward reaction first, followed by a move toward that lower support area if selling pressure continues.
