Ethereum is trading near key support levels following weeks of selling pressure, as volatility continues to shake the cryptocurrency markets. The second-largest cryptocurrency by market capitalization is hovering around the $2,967.76 mark down 23.4% over the past month.
However, on-chain data from CryptoQuant shows that Ethereum’s current price is still 8% above the Accumulation Addresses Realized Price (AARP), a key indicator for long-term investors.
Long-Term Holders Remain Active Despite Market Declines
Despite recent market turbulence, Ethereum continues to see strong accumulation by long-term holders. According to CryptoQuant analyst Burak Kesmeci, about 17 million ETH has flowed into accumulation addresses in 2025. This brings the total balance held by these wallets to over 27 million coins, up from 10 million at the start of the year.
The Accummulation Addresses Realized Price (AARP) is a critical metric, tracking the average cost basis for long-term investors who have acquired Ethereum during previous market cycles. Historically, long-term holders tend to purchase during periods of market stress, and the current price level sits above this threshold, indicating continued investor confidence.
Technical Analysis: Key Support Levels and Resistance
From a technical analysis perspective, Ethereum is holding above structural support near the 200-week moving average, a level that has historically marked price bottoms in past market cycles. Although Ethereum briefly dipped below this level last week, it has since recovered.
However, the 50-week moving average is acting as immediate resistance, with $3,050 being a key price point to watch. A break above this level could signal a shift toward bullish momentum.
On the other hand, if Ethereum fails to hold the 200-week moving average, it could trigger further declines toward the AARP level identified by CryptoQuant, possibly revisiting $2,700 or lower.
Historical Patterns Suggest Potential Recovery
Ethereum’s current price action resembles previous correction phases, notably the April 2025 decline, when the cryptocurrency tested long-term support levels before recovering. Historical data and on-chain metrics indicate that the market may be setting up for a potential accumulation phase.
Long-term holders and institutional investors are watching closely, as the current price range could offer buying opportunities similar to previous market cycles.
What’s Next for Ethereum?
The next several weeks will be critical in determining whether Ethereum can hold key support levels and mount a recovery. Key factors to watch:
- Price action relative to the 200-week moving average
- Breakthrough or rejection at the 50-week moving average resistance
- Continued accumulation from long-term holders
If Ethereum can stabilize above these levels, there could be a chance for a short-term rally as the market regains confidence.
