Ethereum holds support at $2.2k as whale stock declines.
TLDR
Ethereum trades between $2.1K and $2.3K as momentum indicators turn bullish after February's sharp market correction.
The RSI rises above 60 and the MACD shows a bullish crossover, indicating an uptrend on the Ethereum daily chart.
CryptoQuant data shows that ETH is benefiting from capital inflows and tightening supply at current market levels.
Whale stocks are slowing, suggesting the stocking phase may end before the rally.
Ethereum is showing early signs of recovery after months of decline, as recent data points to renewed market activity and stabilizing price action.
Although the price remains in a range below key resistance levels, analysts note a change in momentum.
When the momentum indicators turn positive, Ethereum shows an early recovery
CryptoQuant noted that Ethereum is currently benefiting from capital gains, reduced supply pressure, and stable ecosystem growth. These combined factors keep ETH relatively strong at current market levels.
At the same time, market data shows that Ethereum is recovering from the February low near the $2,000 level. Price action has since stabilized between $2,150 and $2,300, creating a consolidation range. The latest daily candle closed at $2,243.7, representing a modest gain of 2.46%.
Technical indicators are also changing. The Relative Strength Index is now at 60.05, moving above the neutral 50 level. This change represents an improvement after recovering from the oversold conditions seen at the beginning of the year.
Additionally, the moving average volatility indicator has turned positive. The MACD line remains above the signal line, the histogram continues to expand in the positive region. This pattern indicates the strengthening of bullish sentiment after a long bullish phase.
Despite these developments, Ethereum has immediate resistance between $2,250 and $2,300. Sustained action above this zone is needed to ensure a broader recovery trend. Until then, the price will continue to trade within a certain range.
When the market looks to the next direction, the movement of the whale will decrease
As indicators point to improving conditions, whale behavior is showing a different pace. According to CW, the rate of Ethereum accumulation in large containers is decreasing. This change may signal the end of the recent accumulation phase.
Historically, rally levels often precede upward price movements. However, large owners can mark the transition points at which they begin to distribute assets at a higher level. This creates uncertainty over the next market direction.
At the same time, Ethereum's broader trend remains influenced by an early decline from around $5,000 in August 2025. The asset experienced a series of lower highs and lower lows before reaching the February bottom. That larger trend still sets the current price action.
Support levels remain firm around $2,100, with the $2,000 level acting as a psychological floor. On the upside, resistance extends above $2,300 to $2,800 and $3,000, where previous breakouts have occurred.
For now, Ethereum continues to move sideways in the current range. This level reflects the balance between recovering demand and cautious market sentiment. Traders are watching closely for nearby resistance or rejection.
As conditions improve, Ethereum's next move will depend on whether buyers can continue to rally above current levels. Until then, consolidation will remain the dominant structure in the short term.
