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Key Takeaways:<\/strong><\/p>\n Ethereum saw a record 449,000 in ETH inflows to accumulation addresses on April 22.<\/p>\n<\/li>\n Active addresses rose 10%, signaling growing network engagement, but DeFi activity remains weak with declining DEX volumes.<\/p>\n<\/li>\n Holders in accumulation addresses remain underwater with a realized price of $1,981. <\/p>\n<\/li>\n<\/ul>\n Over the past 10 days, Ethereum inflows into accumulation addresses reached their highest levels since 2018. On April 22, a record-breaking 449,000 Ether (ETH)<\/a>, valued at an average price of $1,750, flowed into these addresses, marking the most significant single-day inflow in Ethereum’s history. This surge suggests that long-term holders remain optimistic about Ethereum’s future, despite recent price declines. <\/p>\n However, the realized price for these accumulation addresses is $1,981, meaning these holders are currently at a loss, as the current market price is below this level. Notably, the realized price had been below Ethereum’s market price since 2018, only recently surpassing it, indicating a shift in holder dynamics.<\/p>\n Ethereum’s onchain activity has also shown positive momentum over the past few days. Between April 20 and 22,<\/a> active addresses on the network rose by 10%, from 306,211 to 336,366. This increase and upward price movement signal growing network engagement and bullish sentiment. <\/p>\n Yet, decentralized finance (DeFi) activity remains subdued. Data from DefiLlama<\/a> indicates that decentralized exchange (DEX) volumes are declining, with transactions holding steady at a weekly average of approximately 1.3 million, suggesting limited DeFi momentum.<\/p>\n Related: Ethereum bounces back as market dominance recovers from all-time low<\/strong><\/em><\/a><\/p>\n According to the Cost Basis Distribution (CBD) heatmap<\/a> for Ethereum, a significant supply concentration is highlighted at $1,895.50, where 1.64 million ETH is held by investors who bought during November 2024. This level, identified as a potential resistance, could see selling pressure as holders might attempt to break even or lock in profits. <\/p>\n Based on a technical analysis, the resistance at $1,895 receives further confirmation. The price hovers near the daily chart’s 50-day exponential moving average (EMA), a critical trend reversal indicator. A failure to break above this EMA could signal further bearish momentum, while a sustained move higher might offer hope for bulls.<\/p>\n Despite this, Ethereum remains in a clear downtrend on higher time frame charts, with no definitive signs of a bullish reversal. A daily close above $2,142 is essential to spark a potential recovery, breaking the pattern of lower highs and lower lows. <\/p>\n However, anonymous trader Rektproof warns<\/a> of an emerging bearish fractal—a repeating price pattern that previously led to declines. This suggests Ethereum could face another rejection and drop below $1,400 if the markets start trending down again. <\/p>\n\n
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Ethereum faces key resistance at $1,895<\/h2>\n
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