Ethereum Surges 9% as Accumulation Hits Record 22 Million

Ethereum has recently broken through key resistance levels, marking a significant 9% daily gain. This breakout aligns with historical patterns that have previously triggered exponential rallies, suggesting the potential start of a new bull cycle. The surge in Ethereum's price is supported by strong technical indicators and a record number of accumulation addresses, which now stand at 22 million. This unprecedented level of accumulation signals robust confidence from institutional investors and long-term holders, setting the stage for a potential surge past $10,000.

Historically, Ethereum has formed distinct bottom structures across each market cycle, each followed by powerful rallies. The first major low occurred in 2018, near $100, after a sharp drop from $1,400. In March 2020, amid global turmoil, ETH again bottomed near $90. The most recent low came in late 2022, between $800 and $1,000, followed by a steady climb through 2024. Each retest of the ascending channel’s lower boundary led to explosive growth. In 2017, Ethereum gained over 300x. In 2021, the rally delivered a 50x return. If the trend continues, even a conservative 6x from current levels positions ETH above $10,000 this cycle.

Besides historical price action, ascending trend lines clearly define Ethereum’s long-term upward trajectory. These lines continue to act as reliable support zones. Consequently, every retest of the lower channel provides a strong buy signal for long-term holders. This historical data, combined with the current breakout, suggests that Ethereum is poised for significant gains in the coming months.

On-chain metrics further confirm the bullish outlook for Ethereum. Accumulation addresses have hit a record high, with holdings now topping 22 million ETH. This surge in accumulation dwarfs all previous phases, highlighting massive institutional and whale interest. Between 2017 and 2020, holdings grew slowly. From 2020 to 2021, balances doubled to 6 million ETH. However, from 2024 onward, accumulation skyrocketed, even as prices climbed. This trend signals conviction among large holders expecting major upside. Additionally, accumulation continued even during sharp corrections, reflecting long-term confidence rather than short-term speculation. The massive growth in ETH accumulation aligns perfectly with technical strength, creating a rare bullish convergence.

According to analyst Ted, Ethereum has surged past key resistance, igniting bullish momentum as long-term technical indicators and accumulation data align for a breakout. Currently trading at $2,437.31, ETH is up over 9% on the day. This rally follows a strong bounce from long-term support levels established in past cycles. Historical patterns now point to a possible exponential price rise, with growing institutional interest adding fuel to the bullish fire.