Ether profitability indicator turns bullish as ETH price targets $3k
Ether (ETH) bounced back to $2,300 over the weekend, bringing big investors back into profits, but is this a sign that ETH could rally to $3,000?
According to data from TradingView, the price of Ether rose 20% to $2,330 on Saturday from a local low of $1,940 reached on March 29.
The recovery was triggered by the US and Iran announcing a two-week ceasefire and strengthening of market structures. According to data from CryptoQuant, the rebound pushed ETH Well to profitability.
The ETH whale's unproven profit rate is that wallets holding more than 100,000 ETH are “again profitable,” CryptoQuant Analyst CW8900 said in a Quicktake note on Monday.
“Every point in the history of $ETH where they turned from loss to profit was at the beginning of the rally.”
ETH investors double up on purchases
Whale's profitability reversal indicates accumulation of low levels, indicating long-term investor confidence.
According to data from CryptoQuant, ETH stocks started to rally in late 2025 and have seen an even stronger rally throughout 2026.
Storage addresses are wallets that continuously receive ETH without making any transaction costs. Rather than actively trading Ether, long-term holders, institutional investors, or entities may be strategically hoarding.
As a result, the total ETH held by these long-term holders reached a record 26.3 million. This represents a 32% jump by 2026, even though the price of ETH has dropped by 25% over the same period.
Large spikes into these addresses usually indicate a strong belief in Ether's long-term potential, as past trends show that such spikes often precede price rallies.
For example, on June 22, 2025, Ethereum stock addresses recorded a then-high daily turnover of over 380 million ETH. After 30 days, the price of ETH increased by 85%. A similar price increase was achieved in November 2025 with an increase in access to inventory addresses.
Ether's technical setup points to $3,000
Ether's price action has formed a rounded bottom chart pattern on the 12-hour chart. The price is testing the $2,140 support where the chart's support line and the 20-day exponential moving average (EMA) meet.
Bulls will now try to push ETH/USD above the neck of the ruling chart pattern towards the $2,400 measured target at $2,940, 32% above the current price.
The daily relative strength index (RSI) has risen to 57 from the sell-off levels near 36, indicating that ETH bulls are returning to the market.
However, Ether's cost base distribution data shows that investors hold about 7.6 million ETH at an average cost of between $2,750 and $2,850, creating resistance. This focus suggests that many investors may sell during the rally, which could curb Ether's upward movement.
“Ethereum is headed for the next major resistance at $2,800 in my opinion,” analyst TagadoBTC said in a recent X post, adding:
“The $2,000 zone will hold, otherwise we risk falling to the bottom of the channel.”
As Cointelegraph reports, Ether's rally potential will improve after the altcoin breaks above the $2,400 resistance level. If that happens, the ETH/USDT pair could rise to $2,800.
This article is prepared in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and transactions involve risk; Readers are encouraged to do independent research before making any decisions. Cointelegraph makes no warranty as to the accuracy or completeness of the information provided, including forward-looking statements, and shall not be liable for any loss or damage arising from reliance on such content.
