Ethereum sees record single-day inflow with 449K ETH in accumulation addresses
Ethereum inflows into accumulation addresses reached the highest levels since 2018, with a record 449,000 Ether (ETH) valued at $1,750 on April 22. Long-term holders remain optimistic despite current losses, as the realized price for these addresses is $1,981. Active addresses increased by 10% from April 20 to 22, indicating growing network engagement. However, decentralized finance (DeFi) activity is subdued, with declining decentralized exchange (DEX) volumes averaging around 1.3 million transactions weekly. Key resistance is identified at $1,895.50, where 1.64 million ETH is held by investors from November 2024. A failure to break above the 50-day exponential moving average could lead to further bearish momentum. Ethereum remains in a downtrend, with no signs of a bullish reversal unless it closes above $2,142. An emerging bearish fractal warns of potential declines below $1,400 if market trends downward.
