Ethereum’s native token, Ether
ETH $3,236.86 currently ranks as the only cryptocurrency in the top 10 by market capitalization to show a negative return over the past 30 days.
With crowd sentiment dropping to a new low each week, the altcoin is desperate for a bullish revival, and onchain data suggests it might come sooner than later.
Ethereum addresses add 330,000 Ether in 2 weeks
MAXPAIN, a crypto markets analyst, highlighted that Ether addresses holding between 1,000 to 10,000 ETH have accumulated 330,000 ETH since Jan. 7, valued at over $1.08 billion.
Previously, ETH accumulation of such size occurred in April 2024, when the same cohort of addresses amassed over 620,000 ETH. The altcoin witnessed a 66% upswing thereafter.
The crypto trader also noted the consequent increase in daily active addresses, with network growth rising to 180,000, which may imply a fresh capital inflow.
Conversely, Percival, a verified onchain analyst on CryptoQuant, shed light on the key difference between ETH spot market transactions in 2021, 2024 and 2025. The analyst explained that ETH transaction volumes dropped from $52 billion in January 2021 to $8 billion in 2025, a staggering 84% reduction. The trader added,
Will an inverse head-and-shoulders pattern send ETH to $5,000?
With most of the market moving on from Ether’s lackluster performance over the past month, multiple traders were eyeing the current market setup as a potential bullish opportunity.
Jelle, a long-term crypto investor, identified the formation of an inverse head-and-shoulders pattern within another bullish setup of ascending triangles on the weekly chart.
The probability of a bullish breakout improves significantly with the price converging within a couple of bullish confluences, as the analyst hinted at the possibility of price discovery for the altcoin.
In fact, Alec, a derivative trader, said Ether was developing a tightening on both the 30-minute low time frame (LTF) and 1-day high time frame (HTF). With liquidity present on both sides of the spectrum, the trader said,
Lastly, Cold Blooded Shiller, a markets analyst, opined on the dismissive nature of the industry on Ethereum right now and said,
“$5k $ETH by March, and this will be the saltiest space on Earth.”
While $5,000 is an attainable target for Ether, its immediate hurdle remains at the $4,100 level. Since 2024, Ethereum has managed to break above a descending trendline on two separate occasions, but the overhead resistance at $4,100 has not been breached.
Thus, for Ethereum to target $5,000, the immediate condition is to flip $4,100 into support on the daily and weekly chart. Once the price action has been accepted above the aforementioned level, Ether could rally to $5,000, but until then, the altcoin still needs to rally against bearish odds.