Ethereum Hits $2,500 Resistance Zone Amid Ongoing Accumulation

Ethereum's price is testing resistance near $2,500 after rebounding from an accumulation zone. The cryptocurrency has returned to its April swing high of $2,466 but has not confirmed a breakout above the broader $2,400-$2,500 supply zone.

Exchange reserves are falling, and spot taker buying has strengthened during the past 10 days, indicating continued demand for Ethereum. A move above $2,500 would signal a trend shift, while a rejection followed by a drop below $2,000 would leave the longer-term trend unresolved.

The Coinbase Premium Index remained close to zero without turning positive, showing that U.S.-based demand was still weaker than demand on Binance despite Ethereum trading in the $2,200-$2,400 area. Alphractal's investor price, which is the average acquisition price of ETH held by economically active investors, has been around $1,700.

This level was tested in June, and Ethereum rallied from it, consistent with earlier periods when tests of the measure marked major accumulation zones. CryptoQuant's spot taker cumulative volume delta has risen as taker buys strengthened, particularly over the past 10 days.