Ethereum Bulls Eye $2,500 as Accumulation Zone Fuels Strong Buying Pressure

Ethereum has been making its way up from a major accumulation zone, and exchange reserves have continued to dwindle, indicating ongoing accumulation of $ETH. The Coinbase Premium Index is close to zero but has not yet turned positive, which was last seen in October when Ethereum traded in the $2,200-$2,400 area.

A sustained period of CB Premium above zero often precedes strong bull runs, such as the one in June-July 2025. If the current price clears the $2,400 supply zone ceiling, it's possible that another such run could commence.

Historically, touches of the investor price level have represented major accumulation zones. After testing this level in June, $ETH prices made a decisive rally, accompanied by strong buying pressure, especially over the past ten days. Institutional demand was also strong, with rising taker buy orders indicating aggressive demand for the asset.

A key supply zone retest is underway, and the swing high made at $2,466 in April is under siege once again. While a decisive breakout past this level has not occurred yet, a breakout past $2,500 would confirm a trend shift, while a rejection and a drop below $2,000 would mean the long-term trend has not yet changed.