- Ethereum inflows into accumulation wallets surge, hinting at strong investor confidence.
- Resistance at $2,800 may trigger selling as many holders aim to break even.
- MACD turns bearish while support between $2,330–$2,500 could buffer a short-term dip.
Ethereum (ETH) is currently navigating a critical phase as inflows into accumulation wallets surge sharply. Market observers note the potential for a notable pullback before the next significant price advance. Traders are watching key levels closely as Ethereum approaches resistance zones near $2,800.
Accumulation and Resistance Levels Suggest Possible Pullback
According to an observation by Merlijn The Trader via X, ETH inflows into accumulation wallets have increased dramatically, signaling expectations for a major move. The analyst stated, “Something big is coming. You don’t stack like this unless you know what’s next.” This suggests growing investor confidence despite near-term uncertainty.
However, on-chain data from Glassnode dated May 24, 2025, reveals a concentration of investor cost basis around $2,800. Many holders who purchased at this level have been underwater for months and may seek to exit near breakeven. This cluster could add selling pressure as the price approaches this zone, potentially capping gains temporarily.
Further caution comes from futures market sentiment. Santiment contributor ShayanMarkets noted a declining Taker Buy-Sell Ratio, indicating that sellers are gaining control in the derivatives market. This shift could lead to a more substantial correction if the trend continues.
Technical Indicators and Support Zones Remain Key
Ethereum’s technical setup shows mixed signals. The token trades above short- and mid-term moving averages, maintaining an overall uptrend. Yet, the Bollinger Bands are tightening, and the MACD has recently formed a bearish crossover, suggesting momentum may be weakening.
Price resistance lies near $2,650 and $2,720, with the critical $2,800 level acting as a potential ceiling. Support is found around $2,500 and further down near $2,330 to $2,410, where a strong demand zone exists with over 63 million ETH held by 2.58 million addresses, according to crypto analyst Ali Martinez.
CryptoBullet noted the weekly chart displays a candlestick pattern that previously preceded continued uptrends, indicating that after a possible dip, ETH could resume its rally. The analyst suggested, “I’ll be loading up on $ETH between $2,000 – $2,100 … a clean dip area before the next leg up.”
