Ethereum's market momentum is shifting, with technical indicators beginning to turn bullish. Market analysis platform CryptoQuant notes that Ethereum is currently benefiting from capital inflows, reduced selling pressure, and gradual ecosystem expansion. Under the influence of these factors, Ether's performance has been relatively strong, surpassing broader market conditions.
Latest price data shows that since the pullback in February, Ethereum has maintained a range between $2,150 and $2,300. The most recent daily closing price was $2,243.7, up 2.46% from the previous day, marking a transition to a more stable phase after months of volatility.
Technical indicators are showing signs of improved momentum. The Relative Strength Index (RSI) has climbed above the critical 50 threshold, reaching 60.05, a level typically associated with renewed buying interest and reduced selling pressure. This change comes against the backdrop of the market previously being considered oversold.
The Moving Average Convergence Divergence (MACD) indicator has also entered positive territory, with the main line remaining above the signal line, and the histogram further extending above zero. This arrangement typically reflects an enhancement of bullish momentum following a bearish cycle.
Market observers are focusing on the resistance range between $2,250 and $2,300. To confirm a broader price recovery, Ethereum needs to sustain a breakout above this area. Until then, the asset is expected to fluctuate within its current defined range.
CryptoQuant analysts describe Ethereum's current state: “Ethereum is currently benefiting from capital inflows, supply tightening, and ecosystem growth. This gives Ethereum a stronger structural position in the current market environment.”
Meanwhile, recent on-chain data indicates that the accumulation pace of large holders (whales) for Ethereum is slowing down. Market research platform CW points out that the buying speed of major wallets has decreased, suggesting that the accumulation phase may be nearing its end.
Historically, significant accumulation periods by major holders often precede price increases. However, these phases can also signify a transition from accumulation to distribution, leading to ambiguity in future market direction.
CW's recent statement suggests: “The accumulation pace of large whales for $ETH is slowing down. This may indicate that their accumulation is about to end. The end of whale accumulation means the next phase will begin, and the upcoming accumulation could be a bullish rebound. Whales will sell their accumulated $ETH to retail investors…”
Ethereum's long-term trend still reflects a decline as it approached $5,000 in August 2025, followed by a sustained downward trend, with prices continuously hitting new lows until bottoming out in February.
Strong support is near $2,100, while the psychologically significant $2,000 level provides bottom support. Upside resistance extends above $2,300 to $2,800 and $3,000, aligning with areas where prices previously failed to maintain. This current range-bound phase may lay the groundwork for future price movements.