Ethereum Accumulator Addresses See 400K ETH Inflows Amid Price Pressure

Ethereum is currently under pressure after dropping below the $4,200 level, testing a crucial support zone at $4,000. A breakdown here could lead to deeper corrections, while a strong defense may allow for a rebound.

Recent data shows Ethereum inflows into accumulator addresses are surging, indicating long-term confidence despite short-term market volatility.
Nearly 400,000 ETH were added to these wallets recently, with a record 1.2 million ETH accumulated on September 18th.
These addresses only buy and do not sell, highlighting strategic accumulation by large players, possibly linked to institutional adoption and demand for ETH ETFs.

Long-Term Conviction Amid Pressure

Darkfost notes that the large inflows into accumulator addresses underscore significant long-term holder conviction.
Some of these addresses may be associated with institutional entities offering ETH ETFs, reflecting increased demand.

Despite this accumulation, Ethereum faces a technical test, hovering around the $4,000 support level after a 14% decline since mid-September. Short-term risks persist due to selling pressure and broader market uncertainties.

Ethereum Price Analysis: Testing $4,000 Support

Ethereum's price has fallen below the $4,200 mark and is now testing the $4,000 support zone, marking a 3.2% decline in the last session.
The price has breached the 12H 50 and 100 moving averages, indicating weakening bullish momentum.
Currently, the price hovers above the 12H 200 moving average near $3,800, a critical support level.

If buyers defend the $4,000 area successfully, Ethereum could rebound to retest the $4,200–$4,400 resistance range. However, a daily close below $3,950 could lead to further declines, targeting $3,800 or even $3,600.