Ethereum’s Current Market Position: Analyzing the Numbers
After weeks marked by persistent losses, Ethereum (ETH) is currently priced near $3,150, holding just about 8% above the Accumulation Addresses Realized Price of $2,895. This metric acts as a critical psychological level for long-term investors, providing a reference point where accumulation has historically occurred.
The Accumulation Addresses Realized Price
The Accumulation Addresses Realized Price is significant because it measures the average cost basis for wallets that have been actively accumulating ETH across several market cycles. Unlike short-term traders, these long-term holders tend to buy during market dips and hold their investments for longer periods. As Ethereum approaches the $2,895 threshold, it raises new questions about market dynamics: At what point will value-oriented buyers engage once again, despite the current bearish sentiment?
Long-Term Holders: A Steadfast Community
On-chain analytics from CryptoQuant reveal that long-term holders have accumulated around 17 million ETH in 2025, despite facing external macroeconomic pressures and policy uncertainties. This group typically remains undeterred by market volatility, often seizing opportunities when fear and doubt dominate the market narrative.
Notably, Ethereum dropped decisively below the $2,895 threshold only once during the April 2025 crisis, during which the Global Economic Policy Uncertainty Index surged. Even in that instance of extreme market panic, long-term holders opted to increase their positions rather than liquidate their assets. This behavior has historically pointed to market resilience from core participants.
Accumulation Trends in 2025
As ETH witnessed a significant influx in accumulation, balances in Ethereum’s accumulation addresses jumped from 10 million to over 27 million ETH throughout 2025. This confluence of buying behavior among long-term holders signals a commitment to viewing macroeconomic challenges as potential entry points rather than reasons for exit.
If the price were to dip another 8% to reach the $2,895 cost basis again, this area could function as a robust demand level, reflecting historical trends where prices seldom linger below such support before bouncing back.
Technical Support Levels
Analyzing the technical setup adds another layer of complexity to the picture. Currently, ETH is holding above crucial structural support around the $3,000 mark and the 200-week moving average, a level historically significant in defining market cycles. Last week’s brief dip below $3,000 sparked immediate dip-buying interest, suggesting strong underlying demand despite prevailing negative sentiment.
ETH now stands around $3,190 and is attempting to establish a solid foothold in this price range. The first major hurdle for any potential upward trajectory appears to be the 50-week moving average near $3,500. A clear breakout and weekly close above this level will serve as an early indicator that the ongoing pullback could transition into consolidation, rather than precipitating a deeper slide.
The Risk of Further Downward Movement
Contrastingly, should ETH break below the $3,000 support level without robust demand influx, a deeper retest around $2,800–$2,900 could become a possibility. This range aligns closely with CryptoQuant’s identified Accumulation Addresses Realized Price, making it a focal point for both long-term holders and institutional buyers.
The scenario eerily echoes the April 2025 period, when Ethereum strayed into long-term support, sentiment was at a low, and the market experienced a sharp upwards reversal. However, it’s essential to understand that historical patterns, while useful as guides, do not guarantee future outcomes. Should market conditions worsen externally or crypto-specific shocks arise, ETH could plunge below established support levels before a reliable recovery begins.
Conclusion: The Narrative Continues
As ETH sits at this pivotal junction in its trading trajectory, the tension between long-term accumulation and looming bearish sentiment paints a complicated picture. The upcoming days and weeks will be crucial for Ethereum as it navigates these challenges while long-term investors keep a close watch and remain engaged in the market dynamics.
