Key Takeaways
- Major Ethereum holders accumulated 320K ETH in seven days while smaller investors offloaded 210K ETH
- Daily active addresses on the network reached 837,200—the highest reading in a decade
- ETH price fluctuates between $1,980 and $1,990, facing resistance at the $2,000 threshold
- Spot ETH ETFs in the United States recorded $38.6 million in net capital inflows on Monday
- Binance short interest has declined, yet ETH continues trading beneath critical moving averages
Ethereum continues consolidating around $1,980, failing to reclaim the psychological $2,000 mark even as large-scale buyers accumulate and network engagement reaches unprecedented levels.
During the last seven days, addresses containing 10,000 to 100,000 ETH increased their holdings by 120,000 tokens on Sunday and Monday combined. Throughout the week, these whale-sized wallets accumulated a net total of 320,000 ETH. Simultaneously, smaller addresses holding 100 to 10,000 ETH reduced their positions by approximately 210,000 ETH.
American market participants have maintained measured optimism. The Coinbase Premium Index, which measures buying pressure from U.S. traders, remained above neutral. Spot Ethereum ETFs in the United States also shifted back to positive flows on Monday, attracting $38.6 million with zero withdrawals across all nine available products.
On Binance’s platform, the proportion of short positions in Ethereum futures declined significantly throughout the week. This indicates reduced conviction among traders betting against ETH’s price movement.
Network Engagement Reaches Decade-High Levels
According to Santiment analytics, Ethereum’s daily active address metric climbed to 837,200—marking a 10-year peak. This represents an 82% increase from the five-year average and exceeds the figure from ten years ago by more than 1,100%.
Daily wallet creation has similarly increased 64% over the past five years, currently averaging 284,800 new addresses daily. Previous surges in these indicators have historically coincided with sustained upward price trajectories for Ethereum.
Yet the price action hasn’t followed suit. ETH continues trading significantly below its 50-day exponential moving average around $2,300 and its 200-day exponential moving average near $2,945.
Critical Price Zones Under Focus
Ethereum experienced $78.3 million in forced liquidations during the past 24 hours. Long positions accounted for $48 million of those liquidations.
The Relative Strength Index currently registers around 43, indicating subdued momentum without reaching oversold territory. Immediate resistance barriers are positioned at $2,020, $2,050, and $2,080. Successfully breaching $2,120 could pave the way toward $2,200.
For downside scenarios, initial support emerges near $1,960, followed by $1,932. Falling below $1,895 might trigger a decline toward $1,850 or potentially $1,820.
Glassnode analytics reveal substantial accumulation activity around $1,800, with approximately 1.23 million ETH acquired at an average cost basis of $1,890 during the past month.
CoinGlass figures indicate long position liquidation vulnerability is concentrated between $1,900 and $1,950. Conversely, short squeeze potential intensifies above the $2,000 level.
Ethereum’s current trading price near $1,990 places it squarely within this compressed volatility zone.
