Ethereum accumulation addresses have purchased over 1.11 million ETH in the past week
ETH price is currently around $1,760 after a recent 1% decline
Exchange net inflows of 178,900 ETH were recorded on Thursday as investors took profits
The cryptocurrency is facing resistance at the $1,800 level and the 50-day SMA
Technical indicators show modest bullish momentum despite recent selling pressure
Ethereum (ETH) is currently trading at around $1,760, experiencing a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling pressure, there are signs of returning bullish momentum as accumulation addresses increase their holdings and taker volume metrics show seller exhaustion.
Ethereum’s price movement has shown resilience after finding support near $1,473 on April 11, which some analysts now view as a potential price bottom. The cryptocurrency has since recovered but continues to face strong resistance at the $1,800 level.
ETH started a fresh surge above $1,750 earlier this week, reaching a high of $1,834 before entering a consolidation phase. The price remains above $1,720 and the 100-hourly Simple Moving Average, suggesting underlying strength despite recent profit-taking.
One of the most promising signals for Ethereum comes from accumulation addresses – wallets that have never spent funds. These addresses have shown increased confidence in the past week, purchasing over 1.11 million ETH between April 17 and 23.
Nearly half of these inflows occurred following the price surge on Tuesday. This marks the highest weekly inflow into accumulation addresses in 2025, signaling a return of bullish sentiment among long-term ETH investors.
The steady accumulation is happening despite exchange data showing investors took profits during the recent price increase. On Thursday, Ethereum exchanges saw one of the largest single-day net inflows in 2025, with investors moving approximately 178,900 ETH (worth about $317 million) onto exchanges.
This selling activity during a price increase after weeks of consolidation often comes from short-term traders or investors cutting losses as prices rise back to their cost basis.
Technical Indicators Point to Bullish Momentum
Ethereum’s technical indicators are providing mixed but generally positive signals. The cryptocurrency is trading above its 100-hourly Simple Moving Average with a bullish trend line forming support at $1,780 on the hourly chart.
The Stochastic Oscillator has retreated from the overbought region after spending two days there. Meanwhile, the Relative Strength Index remains above its neutral level, while the Awesome Oscillator has consistently posted receding histogram bars below its neutral level.
These indicators suggest a modest dominance in bullish momentum, though the cryptocurrency is clearly facing challenges at higher levels.
Key Support and Resistance Levels
Ethereum is currently battling resistance at the $1,800 level, which is reinforced by the 50-day Simple Moving Average. If ETH can clear this hurdle, it could potentially break through the upper boundary of a descending channel pattern.
Such a move could see ETH reclaim the psychologically important $2,000 level and potentially challenge the resistance range between $2,100 and $2,200.
On the downside, initial support sits near $1,780, with stronger support at $1,740. If these levels fail to hold, ETH could test lower support at $1,700 or even $1,665. The next key support level below that sits at $1,620.
Ethereum sustained $40.22 million in futures liquidations in the past 24 hours, according to Coinglass data. The total amount of long and short liquidations was $27.07 million and $13.16 million, respectively, showing more bullish positions were closed than bearish ones.
Net taker volume data provides another positive signal for Ethereum. While shorts have dominated ETH futures in the past six months, the negative net taker volume has been reducing steadily since January. This indicates sellers are gradually experiencing exhaustion, despite ETH’s price falling during much of this period.
In other news, Ethereum will be celebrating its 10th anniversary since the genesis block on July 30. The Ethereum Foundation announced it will work with community members to support and sponsor “a series of global meetups, on-chain artifacts, and a live stream to ring in the next decade of Ethereum together.”
The next few days will be crucial for Ethereum’s price direction. If bulls can push above the $1,820 resistance, ETH could target $1,880 and potentially $1,920. However, failure to maintain support levels could see the cryptocurrency retest lower support zones in the $1,700-$1,665 range.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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