Ethereum has reclaimed the $1,900 level after several weeks of sideways trading as on-chain data points to growing whale accumulation and resilient institutional demand. Large investors continue absorbing supply from smaller holders, while companies such as Bitmine are expanding their Ethereum treasuries despite the broader market remaining under pressure.
The combination of improving technical momentum, strengthening institutional participation, and firm support around $1,900 has renewed optimism that Ethereum could be entering the final phase of the current bear market. If buyers can overcome the resistance zone below $2,000, ETH may be positioned for a stronger recovery over the coming months.
Whale Accumulation Suggests Ethereum Could Be Nearing a Market Bottom
According to CryptoQuant, wallets holding between 10,000 and 100,000 ETH have accumulated approximately 5.6 million ETH since mid-2025, increasing their holdings from around 14 million to 19.6 million ETH. Meanwhile, addresses holding more than 100,000 ETH added another 1.8 million ETH, reinforcing the view that the market’s largest participants continue buying into weakness.
ETH total address balance by cohorts. Source: CryptoQuant
Retail investors have moved in the opposite direction. Wallets holding between 1,000 and 10,000 ETH reduced their balances from 15.6 million ETH in January to roughly 12.9 million ETH, with distribution accelerating during several periods of market weakness.
Institutional accumulation has also become increasingly prominent. Bitmine Immersion Technologies recently acquired another 10,399 ETH, bringing its treasury to nearly 5.8 million ETH, or approximately 4.8% of Ethereum’s circulating supply. The company has staked around 85% of its holdings through its validator network and expects to generate roughly $247 million in annual passive income. Bitmine also outperformed the Nasdaq-100 by 2,500 basis points during July, underscoring growing investor confidence in its Ethereum treasury strategy.
This divergence between retail selling and institutional buying has historically appeared near important market turning points. CryptoQuant notes that Ethereum continues to trade around $1,900, well below its realized price of roughly $2,450. Similar valuation conditions were observed near Ethereum’s lows in early 2025 before the market staged a sustained recovery.
Ethereum Reclaims $1,900 as Bulls Target $2,000
Ethereum’s technical outlook has improved after buyers successfully defended support around $1,856 and reclaimed the important $1,900 psychological level.
ETH recently climbed to an intraday high near $1,920 as renewed spot demand combined with short liquidations fueled the latest recovery. The asset continues to hold above the 38.2% Fibonacci retracement near $1,856, a level that has repeatedly attracted buyers since mid-July and helped establish a solid foundation for the current advance.
Momentum indicators continue to support a cautiously bullish outlook. The Relative Strength Index remains near 55, signaling healthy buying interest without entering overbought territory, while the Stochastic Oscillator also reflects steady momentum. On shorter timeframes, Ethereum remains above Supertrend support near $1,842, and positive Chaikin Money Flow points to modest but consistent capital inflows.
The first major hurdle sits near the 100-day Exponential Moving Average around $1,926, followed by a dense liquidation cluster between $1,925 and $1,950. A move through that region could trigger short covering, adding buying pressure and accelerating a rally toward the next Fibonacci resistance at $1,965.
A decisive daily close above $1,965 would strengthen the bullish case and expose the $2,000 psychological level. Beyond that, technical targets extend toward $2,073, followed by $2,172 and eventually $2,431 if buying momentum continues to build.
On the downside, Ethereum’s structure remains constructive as long as it holds above the support zone between $1,856 and $1,900. Losing that region would expose the Supertrend support near $1,842 before bringing the broader $1,800 area back into focus.
CoinCodex Ethereum Price Prediction
According to the latest CoinCodex Ethereum price prediction, ETH could remain in a consolidation phase through the remainder of 2026 before entering a stronger recovery toward the end of the year.
Forecasts suggest Ethereum may trade largely between $1,850 and $2,000 through August, September, and October, with average prices gradually improving as buyers continue building a base above key support. While near-term gains appear relatively modest, the model also indicates limited downside as long as current support levels continue to hold.
The outlook becomes considerably more bullish beginning in November. CoinCodex projects average prices above $2,350 during the month, with upside extending toward approximately $2,525. Strength is expected to continue through December and into early 2027, when Ethereum could establish itself comfortably above the $2,500 level.
The strongest projected upside arrives during March and April 2027. During this period, CoinCodex forecasts maximum prices approaching $3,200, making it the most bullish phase of the outlook. Although some consolidation is expected afterward, projected prices remain well above current levels throughout the rest of 2027, suggesting a sustained uptrend rather than a brief speculative spike.
