Ethereum Rises to $2,400 as Accumulators Add 246K ETH

Ethereum reached $2,400 after accumulation addresses recorded a one-day inflow of 246,620 ETH, about $592 million, according to on-chain analytics firm CryptoQuant.

CryptoQuant’s data shows daily inflows into accumulation addresses rose from mid-2025 and hit an all-time single-day high of 1.14 million ETH in November 2025. In 2026 the inflows averaged about 200,000 ETH per day, and the total held by those long-term accumulation wallets reached a record 25 million ETH, up 20.36% so far in 2026.

Accumulation addresses are wallets that receive ETH and do not send it out. They are typically associated with long-term holders, institutions or entities building positions rather than trading actively.

On previous occasions, large single-day inflows were followed by significant price moves. An inflow above 380,000 ETH on June 22, 2025 preceded an almost 85% price rise about a month later. A similar pattern followed the November 2025 inflow spike.

Larger holders increased holdings as well. Wallets holding between 10,000 and 100,000 ETH rose to more than 19.5 million ETH after rapid accumulation over the past 30 days. Addresses with more than 100,000 ETH climbed to about 4.7 million ETH, a roughly 30% increase in 2026. Additional on-chain indicators show a rising spot taker cumulative volume delta since early April.

Market structure and liquidity data show liquidity pulled around $2,400, with major buy orders concentrated near $3,000 and between $3,350 and $3,500.

From a technical-analysis perspective, ETH/USD is testing the horizontal trend line of an ascending triangle at roughly $2,400. Analysts note that a daily close above the 200-day exponential moving average, near $2,700, would confirm a continuation of the uptrend and set the triangle’s measured target at about $3,315, roughly a 40% rise from current levels. Another technical view using Elliott Wave analysis projects a further extension near $3,500 if the $2,600–$2,700 resistance zone is cleared.

“If $ETH breaks through $2,500, a steady rise to $3,000 will follow,” crypto analyst CW8900 wrote, adding that there is “almost no resistance for short positions.” Traders are watching the $2,400, $2,500 and $2,700 levels for confirmation of price direction.