Ether Profitability Metric Flips Bullish as ETH Price Targets $3K

Ether’s (ETH) rebound to $2,300 over the weekend put large investors back into profit but is this a sign that ETH may rally to $3,000?

Data from TradingView shows that Ether’s price rose 20% to $2,330 on Saturday from its local low of $1,940 reached on March 29.

The recovery was fueled by the US and Iran’s announcement of a two-week ceasefire and a strengthening market structure. The rebound has also pushed ETH whales into profitability, according to data from CryptoQuant.

ETH whales’ unrealized profit ratio reveals that wallets holding over 100,000 ETH are “profitable state again,” CryptoQuant analyst CW8900 said in a Quicktake note on Monday, adding:

“In the history of $ETH, every point where they turned from loss to profit was at the rally start point.”

ETH investors double down on buying

The shift in whale profitability shows accumulation at lower levels, signaling long-term investor confidence.

Data from CryptoQuant shows that ETH accumulation began in late 2025 and has proceeded more aggressively throughout 2026. 

Accumulation addresses are wallets that continuously receive ETH without making any outgoing transactions. They may belong to long-term holders, institutional investors, or entities strategically accumulating Ether rather than actively trading it.

As a result, the total ETH held by these long-term holders reached a record 26.3 million. That marks a 32% jump in 2026 despite ETH price declining by 25% over the same period.

Large spikes in inflows to these addresses often signal strong confidence in Ether’s long-term potential, with past trends showing that such surges frequently precede price rallies.

For example, on June 22, 2025, Ethereum accumulation addresses recorded a then-all-time high daily inflow of over 380 million ETH. Nearly 30 days later, ETH price rallied by almost 85%. A similar price increase succeeded November 2025’s inflow spike into the accumulation addresses.

Ether’s technical set-up points to $3,000

Ether’s price action has formed a rounded bottom chart pattern on the 12-hour chart. The price is retesting the $2,140 support, where the chart’s support line and the 20-day exponential moving average (EMA) converge. 

Bulls will now attempt to push ETH/USD above the neckline of the governing chart pattern at $2,400, paving the way toward the measured target at $2,940, 32% above the current price. 

The daily relative strength index (RSI) has risen to 57 from near-oversold levels at 36, suggesting ETH bulls are returning to the market.

However, Ether’s cost basis distribution data shows that investors hold about 7.6 million ETH at an average cost of between $2,750 and $2,850, creating a potential resistance zone. This concentration suggests that many investors may sell at breakeven, potentially stalling Ether’s upward momentum.

“Ethereum is heading, in my opinion, toward its next major resistance at $2,800,” said analyst TagadoBTC in a recent X post, adding: 

“The $2,000 zone remains the one to hold, otherwise we risk falling back to the bottom of the channel.”

As Cointelegraph reported, Ether’s potential for a rally will improve once the altcoin breaks above the $2,400 resistance level. If that happens, the ETH/USDT pair may surge to $2,800.