Ether Onchain Data Point to $2,800 Test as Glassnode Identifies Key Support Zone
Ether has recently rebounded from the $2,000 range, shifting the market’s focus to $2,800. Glassnode’s cost-basis distribution shows that more than 3 million ETH previously accumulated around that level. The concentration could draw prices higher, but selling by holders seeking to break even could also create resistance. The 200-day moving average is also nearby, making the area a crucial test of whether the rally can continue.
A March 13, 2026, report said Ether had touched a monthly high of $2,209. By March 16, the cryptocurrency had broken above a $2,100 trendline and risen 9.8% in a day to a six-week high of $2,287. Futures open interest initially climbed 21% to $10.9 billion, then fell about 6% after Ether tested $2,200, indicating that traders had become more cautious.
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The history behind this eventEther Tests $2,400 as Accumulation Addresses Add More Than 240,000 ETH in One Day
Ether has rebounded about 39% from multiyear lows below $1,750 and is again closing in on resistance near $2,400. CryptoQuant defines wallets that only receive coins without sending them as “accumulation addresses,” which typically signal positioning by long-term holders or institutions. Their average daily inflows in 2026 stand at about 200,000 ETH, making their activity an important gauge of market confidence.
Cointelegraph reported on May 6, 2026, that CryptoQuant data showed accumulation addresses added 246,620 ETH on May 5, worth about $592 million at the time. Technically, if $2,400 turns from resistance into support, an ascending-triangle pattern points to a target of about $3,315, while an extended rally could test $3,500. Failure to hold the level would leave Ether at risk of a pullback.
Ethereum Price Hovers Around $2,000 as Analysts Watch $2,200 Support
Ether (ETH), the Ethereum network's native asset, often reflects onchain activity and risk appetite in the broader crypto market. Citing TradingView on April 28, Cointelegraph reported that ETH had fallen below $2,300 and was trading between its 100-day exponential moving average of $2,350 and its 100-day simple moving average of $2,220. The $2,200 level was seen as crucial support for bulls seeking to avert a deeper correction.
A May 18 report showed ETH had fallen 12% from its May 6 peak of $2,420, touching a low of $2,090 on May 17. CryptoQuant said hourly taker sell volume on Binance had exceeded $1.1 billion, while U.S. spot Ether ETFs recorded $255 million in net outflows over five days. About 3.85 million ETH had a cost basis between $2,000 and $2,100, and a break below $2,000 could send the price toward $1,700.
Ether Traders Expect ETH to Hold Above $1,800
Ether (ETH) is the native asset of the Ethereum blockchain, and traders view $1,800 as a key support level. An onchain profitability indicator has fallen to historically low levels, suggesting that much of the short-term selling pressure may have been exhausted. If the price holds, the market would have more reason to conclude that the current correction is nearing a bottom.
The latest onchain data shows stronger buying support for ETH around $1,800, while the spent output profit ratio (SOPR) indicates that investors have recently sold at a loss amid panic. Similar periods of concentrated loss realization have often preceded price reversals, leading traders to expect ETH to hold $1,800 in the short term and build momentum for a rebound.
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