ETH Holders Refuse to Sell as Price Holds Below $2.000

Despite a sharp correction that took Ethereum from its cycle high of $4.107 in December 2024 to a low of $1.866 in March 2025, long-term holders continued to accumulate the cryptocurrency. On-chain data shows that despite facing unrealized losses, these investors maintained their positions and significantly increased their holdings.

The tipping point came on March 10, when ETH fell below $1.900, putting pressure on so-called hoarder addresses — those who consistently hold ETH for long periods of time — to trade at a loss. The realized price for these addresses was $2.026, temporarily putting them in negative territory. However, instead of dumping their positions, they intensified their accumulation.

According to data from CryptoQuant, the metric “ETH: Realized Price per Address Accumulation” shows that between March 10 and May 3, the average realized price of these addresses fell to $1.980, a reduction of 2,32%. In that same period, the total volume of Ethereum held by this group increased from 15,5 million to 19 million ETH — an increase of 22,54%.

This behavior reveals strong confidence in Ethereum's future prospects on the part of long-term holders, even in the face of a still cautious market.

ETH Holders Refuse to Sell: Accumulating Addresses Lower Their Cost Basis

“On March 10 they held 15.5356M ETH, and by May 3 this rose to 19.0378M ETH, a 22.54% increase. Behavior reflects structural conviction clear expectations of short-term appreciation.” – By @oro_crypto pic.twitter.com/yx12tC7N0O

- CryptoQuant.com (@cryptoquant_com) May 5, 2025

ETH Price May Rise Again

Furthermore, technical analysis is also starting to show signs of optimism. Analyst Michael van de Poppe commented on his X account that Ethereum appears to have regained an important support level, suggesting the possibility of a new appreciation.

“$ETH has bounced below the support level and bounced off this former support level. This confirms buying pressure and indicates that Ethereum will likely target $2.100 as the next target zone. Bullish trend.”

$ ETH had a deviation below the support level and has reclaimed that old support level.

This is a confirmation of buying pressure and indicates that Ethereum is likely going to target $2,100 as the next target zone.

Upwards trend. pic.twitter.com/u5Vy3AtE9B

- Michaël van de Poppe (@CryptoMichNL) May 5, 2025