Ethereum Whales Stack 449K ETH in a Day, but $1,895 Resistance Holds Firm

• 449k ETH added by holders despite price dip
• $2,142 is seen as a critical recovery target
• Ethereum’s highly anticipated Pectra upgrade is scheduled to go live on May 7

A few days ago, Ethereum saw a historic single-day inflow of 449,000 ETH into accumulation addresses – wallets that have never spent funds. This marks the highest daily inflow since 2018, suggesting that these Ethereum whales are optimistic about Ethereum’s future, even though many remain underwater with a realized price of $1,981. This means that the purchased prices are higher than the current market price. Despite short-term losses, these holders are not panicking, and they remain convinced of Ethereum’s long-term potential.

ETH Struggles at $1,895 Resistance

Judging by technical analysis, Ethereum faces big resistance at $1,895, where approximately 1.64 million ETH is held by investors from November 2024. A decisive close above $2,142 is needed to break the current pattern of declining highs and lows, which would signal a potential bullish reversal.

Also, active Ethereum addresses have increased by 10%, indicating growing network engagement. However, DeFi activity remains subdued…

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