ETH Investors Return to Profitability as Price Eyes $3,000 Target
Major Ethereum investors have returned to profitable positions, boosting prospects for a surge to $3,000, though the $2,800 level could present obstacles to the upward movement.
The weekend recovery of Ether's (ETH) price to the $2,300 level has returned major holders to profitability, raising questions about whether this signals an impending rally toward $3,000.
According to TradingView data, Ether experienced a 20% price surge to $2,330 on Saturday, climbing from a local bottom of $1,940 that was recorded on March 29.
The upward movement was driven by announcements from the US and Iran regarding a two-week ceasefire, combined with improving market fundamentals. This price bounce has also returned ETH whales to a profitable position, based on CryptoQuant data.
The unrealized profit ratio for ETH whales indicates that addresses containing more than 100,000 ETH have entered a "profitable state again," according to CryptoQuant analyst CW8900 in a Monday Quicktake note, who added:
"In the history of $ETH, every point where they turned from loss to profit was at the rally start point."
ETH investors double down on buying
The transition in whale profitability demonstrates accumulation at reduced price levels, indicating confidence among long-term participants.
CryptoQuant data reveals that ETH accumulation activity started in late 2025 and has intensified more significantly throughout 2026.
Addresses classified as accumulation wallets are those that consistently receive ETH while making no outbound transfers. These wallets typically belong to long-term holders, institutional participants, or entities that are strategically building Ether positions instead of engaging in active trading.
Consequently, the aggregate ETH holdings in these long-term holder wallets hit an all-time high of 26.3 million. This represents a 32% increase in 2026 even as ETH price fell by 25% during the same timeframe.
Significant increases in flows to these wallets typically indicate robust belief in Ether's long-term value proposition, with historical patterns demonstrating that such accumulation spikes often come before upward price movements.
As an illustration, on June 22, 2025, Ethereum accumulation wallets logged a record-breaking daily inflow exceeding 380 million ETH. Approximately 30 days afterward, ETH price surged by nearly 85%. A comparable price appreciation followed the November 2025 spike in inflows to accumulation addresses.
Ether's technical set-up points to $3,000
The price movement of Ether has created a rounded bottom chart formation on the 12-hour timeframe. The asset is currently retesting the $2,140 support level, where the chart's support trendline and the 20-day exponential moving average (EMA) meet.
Buyers will now seek to drive ETH/USD beyond the neckline of the prevailing chart formation at $2,400, opening the pathway to the measured objective at $2,940, representing a 32% gain from current levels.
The daily relative strength index (RSI) has climbed to 57 from near-oversold territory at 36, indicating that ETH buyers are re-entering the market.
Nevertheless, Ether's cost basis distribution metrics reveal that market participants hold approximately 7.6 million ETH at an average acquisition price between $2,750 and $2,850, establishing a potential resistance area. This clustering indicates that numerous investors could sell to break even, potentially impeding Ether's bullish trajectory.
"Ethereum is heading, in my opinion, toward its next major resistance at $2,800," stated analyst TagadoBTC in a recent X post, adding:
"The $2,000 zone remains the one to hold, otherwise we risk falling back to the bottom of the channel."
According to Cointelegraph's earlier reporting, Ether's prospects for an upward rally will strengthen once the cryptocurrency pushes above the $2,400 resistance threshold. Should this occur, the ETH/USDT pair could climb to $2,800.