Ethereum accumulation addresses have seen a rise in day by day inflows since Friday, suggesting that confidence within the long-term price movement of Ether (ETH) is growing despite the recent decline below $2,000.
Key Takeaways:
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Ether’s decline below $2,000 has resulted in 58% of addresses suffering unrealized losses.
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Accumulation addresses have absorbed around $2.6 billion in ETH in five days.
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Key Ether levels to observe below $2,000 include $1,800, $1,500, $1,200, and potentially $1,000 to $750 in extreme scenarios.
58% of Ether addresses at the moment are within the red
Ether's 38% decline during the last month has seen it fall below key support levels, including the common entry price of accumulation addresses, the associated fee basis of spot Ethereum ETF investors, and the psychological level of $2,000.
The ETH/USD pair is now trading 60.5% below its all-time high of $4,950, leaving a good portion of holders underwater. This includes BitMine, the world's largest Ethereum treasury affiliated with investor Tom Lee, whose paper losses rose to over $8 billion.
With ETH trading at $1,954 on Wednesday, only 41.5% of Ethereum addresses are making profits while over 58% are within the red.
Ethereum: addresses in profit, %. Source: Glassnode
Ether's current market price can also be below the common cost basis of accumulation addresses, which is currently $2,580, suggesting that long-term holders are under increasing pressure.
Ethereum: Realized price for accumulation addresses. Source: CryptoQuant
ETF investors are also feeling the pressure. James Seyffart, senior ETF analyst at Bloomberg, highlighted that Ethereum ETF holders are currently in a worse position than their Bitcoin counterparts.
With ETH below $2,000, the altcoin is trading well below the estimated average ETF cost basis of around $3,500.
Source: X/James Seyffart
Ether accumulation absorbed 1.3 million ETH in five days
Despite the sharp downturn, investor confidence has not been completely shaken. Data from CryptoQuant showed that Ethereum accumulation addresses received 1.3 million Ether, value about $2.6 billion at current prices.
ETH “full accumulation” began in June 2025 and is “progressing much more aggressively,” CryptoQuant analyst CW8900 said in Wednesday’s quicktake evaluation, adding:
“The current price should look attractive to $ETH whales.”
ETH inflows into accumulation addresses. Source: CryptoQuant
As a result, the full variety of ETH held by these long-term holders has reached a record 27 million. That represents a 20.36% increase to date in 2026, though the ETH price has fallen 34.5% over the identical period.
ETH balance held by accumulation addresses. Source: CryptoQuant
Accumulation addresses are wallets that constantly receive ETH without making any outgoing transactions. They could be owned by long-term holders, institutional investors, or firms that accumulate Ether strategically somewhat than actively trading.
Large increases in inflows to those addresses often signal strong confidence in Ether's long-term potential, with past trends showing that such increases often precede price increases.
For example, on June 22, 2025, Ethereum accumulation addresses recorded a then-unprecedented day by day inflow of over 380,000 ETH. Almost 30 days later, the value of ETH rose by almost 85%. The surge in inflows into accumulation addresses in November 2025 was followed by a 25% price rally.
Key ETH price levels to control are below $2,000
The ETH/USD pair prolonged losses below $2,000, a key support level that bulls have to recapture to stop further downside.
“$ETH didn’t hold above $2,000 and is now declining,” crypto analyst Ted Pillows said in an X post on Wednesday, adding:
“The next essential level is around $1,800-$1,850 if Ethereum doesn’t reclaim $2,000 soon.” 
ETH/USD day by day chart. Source: Ted Pillows
Crypto analyst Thanos shares similar views and tells his followers to organize for an ETH price of $1,500 if the $2,000 isn’t reclaimed by the top of the week.
LadyTraderRa stated that Ether will “definitely” retest the $750-$1,000 zone based on past price movements on the monthly candlestick chart.
ETH/USD monthly chart. Source: LadyTraderRa
Glassnode's Realized UTXO Price Distribution (URPD), which shows the common prices at which ETH holders purchased their coins, shows that below $2,000, key support levels for ETH lie at $1,880, $1,580, and $1,230.
ETH: UTXO realized price distribution (URPD). Source: Glassnode
As Cointelegraph reported, the ETH/USD pair could fall to $1,750 after which to $1,530 after failing to carry above $2,100.
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