- Strategic ETH accumulation increases as the conviction holders absorb the supply despite the muted market sentiment and Defi delay.
- Wallets In the long term, record intake, which indicates the deepening of confidence, are traded even if Ethereum is traded under the most important resistance.
While market participants are struggling with shifting sentiment, Ethereum [ETH] transforms under the surface.
While headlines focus on price fluctuations and defi-cooling, data on chains reveal a story of strategic accumulation and growing convictions with seasoned holders.
From falling panic sales to registering inflow into long -term portfolios, the supply behavior of Ethereum contrasts sharply with Bitcoin’s [BTC]Pointing to an adult investor base that may position for the next major movement.
Ethereum Supply Shifts show strategic accumulation
The ETH Supply Dynamics Tell a contrasting story compared to BTC. As shown in the Heatmap, there is no significant revival of first buyers or momentum buyers – RSI for these cohorts remains damped.
However, buyers of conviction have demonstrated consistent accumulation since the end of March, in which they enforce a strong RSI around 80, which indicates a fixed belief despite wider market hesitation.
Source: Glassnode
Loss vendors in particular peak around 16 April, but since then left, RSI fell below 50, which suggests that a delay in panic sales.
This shift in cohort behavior indicates a more strategic battery phase instead of an anxiety -driven output, which points to emerging trust in seasoned holders.
Defi cools, but accumulators show conviction
Source: X
Despite a recent increase in commercial activities, The Dex Ecosystem from Ethereum is still far from its peak.
TVL in Ethereum-based Dexs, almost 90% has fallen from all time, while the monthly trade volume has fallen by around 55%. Users can shift to other chains or opt for off-chain solutions in the middle of market uncertainty.
Source: Cryptuquant
However, a deeper trend is on the rise. Accumulating addresses – portfolios that have never sold – absorb ETH at unprecedented levels.
In just the last 48 hours, these addresses did more than 640,000 ETH, the biggest inflow since 2018. This behavior, visible in Cryptuquant -Data, Shows growing confidence among long -term holders despite price weakness.
Ethereum’s price forecast
The recent price promotion of Ethereum showed signs of a short -term recovery, but the momentum remained vulnerable. After a sharp fall of less than $ 1,700, ETH recovered to test resistance near $ 1,800 at the time of the press.
Source: TradingView
The RSI was around 52 and signaled Neutral Momentum, while the MACD showed a light bullish crossover – a potential sign of positive trend forecast.
However, the volume remained modest and the rejection near $ 1,800 suggested that sellers were still active. If ETH can hold above the range of $ 1,720- $ 1,750, a $ 1,850 retest is possible.
But not retaining support can open the door for a drop back to $ 1,650.