ETH Accumulation Wallets Increase 33%: Will ETH Price Follow?
Ether (ETH)'s rally to $2,400 is more than 38% lower at $1,750, but is ETH's price action simply a flash trade or do longer-term data points indicate a change in the game?
ETH storage addresses hold 6.5 million Ether
Ether's recent rally was preceded by an 89% increase in daily active addresses (DAA), which jumped from 384,763 to 730,278 on April 5.
The increase in Ethereum active addresses indicates an increase in user interaction with the network, which is generally positive.
The chart below shows that the movement increased significantly as the price of Ether rose to $2,300.
A similar movement was consistently observed near the macro bottom before significant ETH price rallies from 2022 onwards.
Since mid-2025, daily inflows to storage addresses have increased, reaching an all-time high of 1.14 million ETH in November 2025. The flow continued to grow in 2026, averaging 200,000 ETH per day, peaking at over 358,000 on Thursday.
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It increased by 6.5 million to 26.16 million from 19.64 million on January 1, representing a 33% increase in the amount of ETH held in wallets or holders with no history of selling.
The supply of ETH held in storage addresses is a key indicator for traders and market participants, as it reflects overall confidence in Ether's long-term outlook.
The total price of ETH paid further reinforces this view. The scale now stands at 39.2 million ETH, indicating growing investor confidence.
As Cointelegraph reports, the supply of Ether held on exchanges has fallen to multi-year lows, further strengthening order books.
Ether's cup and handle chart breakout is targeting $3,150
As shown in the chart below, the ETH/USD pair may continue its bullish trend after breaking out of the cap-and-hand (C&H) chart pattern. A 12-hour candlestick above the neck of the cup at $2,400 could signal the start of a strong uptrend.
The target is set by adding the depth of the cup to the release point, which will reach $2,960, an increase of approximately 22% from the current price.
The relative strength index rose to 68, indicating that the ETH bulls are back in control.
Trader TheSkayeth has seen a large C&H pattern forming over the past two months on the daily timeframe, which he says ETH is “preparing for a big move”.
“If the cup and handle design continues, I think we'll be in the golden zone next.”
The measured target of this large formation is $3,150, which is 30% above the current level.
Applying this framework, ETH bulls should hold above the $2,350-$2,400 zone to ensure a sustained upside breakout.
According to Cointelegraph, a close above the $2,400 level will raise hopes for the ETH/USDT pair to rise to $2,800 and later to $3,050.
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