ETH Accumulation Wallet Holdings Jump 33%: Could $3,000 Be the Next Target?
Ether's technical chart reveals a validated cup-and-handle pattern breakout alongside a significant 33% surge in accumulation wallet holdings, potentially signaling the beginning of an extended uptrend for the cryptocurrency.
The recent surge in Ether's (ETH) price to $2,400 represents approximately 38% gains from its previous swing low of $1,750, raising questions about whether this price movement is merely driven by short-term momentum or if fundamental long-term metrics indicate a more significant market transformation.
Accumulation wallets absorb 6.5 million ETH tokens
The latest price rally in Ether was accompanied by an impressive 89% increase in daily active addresses (DAA), which climbed from 384,763 to 730,278 on April 5.
This rise in active addresses on the Ethereum network demonstrates heightened user engagement, typically considered a favorable indicator for the ecosystem.
As illustrated in the chart below, network activity experienced a substantial uptick as ETH's price advanced toward $2,300.
Such patterns of activity have been regularly documented near major market bottoms dating back to 2022, often appearing before substantial rallies in ETH's valuation.
Furthermore, daily inflows to accumulation addresses have experienced growth since the middle of 2025, hitting a record peak of 1.14 million ETH in November 2025. These inflows have maintained their upward trajectory throughout 2026, with an average daily rate of 200,000 ETH, including a notable surge exceeding 358,000 on Thursday.
The total quantity of ETH stored in accumulation wallets—defined as addresses with no recorded history of selling—has grown by 6.5 million tokens, rising to 26.16 million from 19.64 million on Jan. 1, marking a substantial 33% increase.
The volume of ETH supply maintained in accumulation addresses serves as a crucial metric for market participants and traders, as it demonstrates the broader market's conviction in Ether's future prospects.
This positive outlook is further supported by the total value of staked ETH. The indicator currently registers at 39.2 million ETH, reflecting strengthening confidence among investors.
According to previous Cointelegraph coverage, the amount of Ether supply sitting on exchanges has dropped to levels not seen in multiple years, creating additional constraints on available liquidity in order books.
Cup-and-handle pattern breakout projects ETH price at $3,150
The ETH/USD trading pair could continue its current bullish momentum following its breakout from a cup-and-handle (C&H) technical pattern, as demonstrated in the accompanying chart. A confirmed 12-hour candlestick close positioned above the cup's neckline at $2,400 could indicate the beginning of a more robust upward movement.
The price target is calculated by measuring the cup's depth and adding it to the breakout level, resulting in an estimate of approximately $2,960, representing roughly a 22% gain from current price levels.
The relative strength index has climbed to 68, indicating that bullish traders have regained market dominance.
Market analyst TheSkayeth identified an even larger C&H formation developing throughout the past two months on the daily timeframe, suggesting ETH was "setting up for a massive move."
"If the cup and handle pattern continues, I think we get to the golden zone next."
The projected target based on this broader pattern formation stands at $3,150, representing a potential 30% increase from present levels.
Using this analytical approach, bullish traders will require sustained support above the $2,350-$2,400 range to validate a lasting upward breakout.
According to earlier Cointelegraph analysis, a decisive close above the $2,400 threshold would enhance the likelihood of the ETH/USDT pair advancing to $2,800 and subsequently reaching $3,050.