Key Highlights
- ETH price surpassed $2,400, marking a 38% rise from the $1,750 swing low
- Investor accumulation wallets expanded by 33%, absorbing 6.5 million ETH since early January
- Technical analysis reveals a cup-and-handle formation with projected targets between $2,960 and $3,150
- Ethereum ETFs recorded continuous net inflows for seven trading days, amounting to $298.4 million
- Geopolitical developments, including Iran’s Strait of Hormuz reopening, contributed to positive price momentum
Ethereum’s value has surpassed the $2,400 threshold, extending a rebound that originated from a previous low point of $1,750. This upward trajectory represents approximately 38% gains from that foundational level. Multiple blockchain metrics and chart formations are capturing trader focus.
The number of daily active addresses on Ethereum’s network experienced an 89% surge, climbing from 384,763 to 730,278 on April 5. Historical patterns show similar spikes in network activity have coincided with market troughs before, particularly during 2022, preceding substantial price reversals.
Accumulation addresses recorded peak daily inflows of 1.14 million ETH during November 2025. Throughout 2026, these wallet addresses have maintained an average daily intake of 200,000 ETH, with Thursday witnessing an exceptional spike reaching 358,000 ETH.
Wallets classified as accumulation addresses—those with zero selling history—have expanded their collective holdings from 19.64 million to 26.16 million ETH beginning January 1. This represents a substantial 33% expansion in held tokens.
The amount of staked ETH currently totals 39.2 million tokens. Meanwhile, exchange-held ETH supplies have declined to levels unseen in multiple years, tightening the available liquidity across trading platforms.
Technical Formation Indicates $3,150 Price Objective
Chart analysis reveals ETH has completed a breakout from a cup-and-handle configuration on the 12-hour timeframe. A sustained close beyond the $2,400 neckline establishes a measured projection near $2,960. The 14-day Relative Strength Index currently registers between 65 and 68, indicating positive momentum conditions.
Analyst TheSkayeth highlighted a more expansive cup-and-handle structure developing across two months on the daily timeframe. The trader noted ETH was “setting up for a massive move” and suggested successful pattern completion would push prices toward the “golden zone.” The calculated objective from this extended formation reaches $3,150.
Everyone is crying about how $ETH and $BTC did not do very well compared to other altcoins today.
But that’s because they are setting up for a MASSIVE move.
If the cup and handle pattern continues, I think we get to the golden zone next.
Save this.
Don’t miss out. pic.twitter.com/TP2NllZCs7— Sky (@TheSkayeth) April 17, 2026
Exchange-Traded Fund Activity Demonstrates Renewed Institutional Appetite
Ethereum-focused exchange-traded funds have maintained positive net inflows across seven consecutive trading sessions, accumulating $298.4 million in total capital, based on SoSoValue tracking. April 17 alone witnessed $127 million flowing into spot Ethereum ETFs, according to Wu Blockchain reporting.
On April 17 (ET), U.S. spot Bitcoin ETFs recorded total net inflows of $664 million, extending the inflow streak to four days. Spot Ethereum ETFs posted total net inflows of $127 million, marking seven consecutive days of inflows. pic.twitter.com/bJlzcFT23L
— Wu Blockchain (@WuBlockchain) April 18, 2026
Ethereum’s valuation received additional support from diminishing geopolitical risks. Iranian authorities confirmed the Strait of Hormuz would reopen following ceasefire progress between the United States and Lebanon. ETH currently trades above its blockchain-derived average acquisition cost of $2,308.
The Moving Average Convergence Divergence indicator on Ethereum’s weekly timeframe has formed a golden cross—a technical signal that historically aligned with price floors during November 2024 and May 2025.
Ethereum derivatives open interest has expanded to 14.67 million ETH. Funding rates have shifted into negative territory, indicating short-position traders are establishing bets anticipating a temporary slowdown. Within the most recent 24-hour period, $163.2 million worth of ETH positions faced liquidation, with $140.9 million stemming from short contracts.
Immediate price support for ETH rests at the 100-day Exponential Moving Average positioned near $2,378. Overhead resistance appears at $2,746, with a more formidable barrier located at $3,411.
