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Ethereum(ETH) is testing resistance near $2,500 after rebounding from an accumulation zone, while falling exchange reserves and stronger spot buying point to continued demand.
Key Points:
- ETH has returned to Apr.’s $2,466 swing high, but price has not confirmed a breakout above the broader $2,400-$2,500 supply zone.
- Exchange reserves are falling, and spot taker buying has strengthened during the past 10 days.
- A move above $2,500 would signal a trend shift, while a rejection followed by a drop below $2,000 would leave the longer-term trend unresolved.
Ethereum Resistance Test
Ethereum has pushed higher from a major accumulation area as exchange reserves continued to fall, a pattern the report linked to ongoing accumulation. The move has not cleared resistance.
The Coinbase Premium Index remained close to zero without turning positive, showing U.S.-based demand was still weaker than demand on Binance despite Ethereum trading again in the $2,200-$2,400 area.
The last sustained positive Coinbase Premium reading came in Oct., while strongly positive readings also accompanied the Jun.-Jul. 2025 Ethereum rally. The current signal remains weaker.
ETH Demand Signals
Alphractal said Ethereum’s investor price, the average acquisition price of ETH held by economically active investors, was around $1,700. That level was tested in Jun.
Ethereum then rallied from the investor price, consistent with earlier periods when tests of the measure, or moves below it, marked major accumulation zones. Buying pressure has intensified.
CryptoQuant‘s spot taker cumulative volume delta, which tracks the 90-day difference between market-order buy and sell volumes, has risen as taker buys strengthened. The report said buying pressure was particularly strong over the past 10 days, while institutional demand also remained firm.
The market has returned to the $2,466 swing high set in Apr., but it has not broken decisively above that supply zone. Resistance remains intact.
Earlier in 2026, Ethereum set the $2,466 swing high in Apr. before later testing the roughly $1,700 investor price in Jun. The rebound from that Jun. area has brought ETH back to the same resistance, making the current test a repeat challenge rather than a confirmed breakout.
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Source: yellow.com