When the price of ETH drops below $2K, Ethereum Wells will rally strongly
Ethereum stock addresses have seen inflows increase daily since Friday, indicating growing confidence in Ether's (ETH) long-term price range, despite its recent dip below $2,000.
Main Receptors:
Ether's drop below $2,000 resulted in 58% of addresses experiencing unaccounted losses.
Storage addresses took about $2.6 billion in ETH in five days.
Key ether levels to watch under $2,000 include $1,800, $1,500, $1,200, and possibly $1,000-$750 in extreme situations.
58% of Ether addresses are now in the red.
Ether's 38% decline in the past month has seen it fall below key support levels, including the average entry price of the rally addresses, the price base for spot Ethereum ETF investors and the psychological level at $2,000.
The ETH/USD pair now trades 60.5% below $4,950, leaving holders significantly underwater. This includes BitMine, the world's largest Ethereum exchange linked to investor Tom Lee, which has seen its paper losses grow to more than $8 billion.
RELATED: Big Interest Zone Below $2K ETH Price Signals Where Ether Is Going
With ETH at $1,954 on Wednesday, only 41.5% of Ethereum addresses are in the profit, with more than 58% in the red.
Ether's current market price is also below the average cost basis of the address pool currently at $2,580, suggesting that long-term holders are under pressure.
ETF investors are also feeling the pressure. James Seifert, senior ETF analyst at Bloomberg, highlighted that Ethereum ETF holders are currently in worse shape than their Bitcoin counterparts.
As ETH hovers below $2,000, the altcoin moves below the average ETF cost of $3,500.
Ether stock will receive 1.3 million ETH in five days
Although it is known that it has declined significantly, the confidence of investors has not been completely eroded. According to data from CryptoQuant, Ethereum storage addresses currently have 1.3 million Ether worth about $2.6 billion.
ETH's “full size reserve” began in June 2025, and is “continuing to become more aggressive,” CryptoQuant Analyst CW8900 said in a QuickTack analysis on Wednesday:
“The current price may look attractive to $ETH whales.”
As a result, the total ETH held by these long-term holders reached a record 27 million. This represents a growth of 20.36% so far in 2026, although the price of ETH has decreased by 34.5% during the same period.
Storage addresses are wallets that receive ETH continuously without making any costly transactions. They can be long-term holders, institutional investors, or entities that strategically store Ether instead of actively trading.
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 380,000 ETH. After 30 days, the price of ETH increased by 85%. A 25% price rally in November 2025 following a surge into inventory addresses.
Key ETH price levels to watch below $2,000
The ETH/USD pair has extended its losses below $2,000, a key support level that the bulls must return to to prevent further declines.
“$ETH failed to hold above the $2,000 level and is now declining,” crypto analyst Ted Tras said on XPost on Wednesday.
“If Ethereum does not return to the $2,000 level soon, the next key level is at the $1,800-$1,850 level.”
Fellow crypto analyst Thanos shares similar views, telling followers to “get ready” for a $1,500 ETH price if $2,000 isn't returned by the end of the week.
Highlighting, LadyTraderRa says Ether is “definitely going” to retest the $750-$1,000 zone based on past price action on the monthly candlestick chart.
Glassnode's UTXO Actual Price Distribution (URPD) shows the average price at which ETH holders bought their coins below $2,000 with key support levels for ETH sitting at $1,880, $1,580 and $1,230.
According to Cointelegraph, the ETH/USD pair is likely to drop to $1,750 and then $1,530 after failing to hold above $2,100.
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