Ethereum’s Silent Surge: Long-Term Holders Gobble Up ETH During June’s Price Lull
While retail traders panicked over sideways price action, Ethereum's smart money stacked sats—quietly accumulating at levels that'll make future FOMO buyers weep.
The Accumulation Game
June's consolidation wasn't stagnation—it was a buffet for whales. On-chain data shows long-term holders treating sub-$3,500 ETH like a Black Friday sale, loading up while weak hands ditched their bags.
Why This Matters
When LTHs buy during pullbacks, history shows they're usually early—but never wrong. Their June buying spree mirrors accumulation patterns before ETH's 2021 bull run. Cue the 'institutional adoption' narrative Wall Street will inevitably pitch after the fact.
The Ironic Twist
Same 'diamond hands' getting mocked in 2023 are now outmaneuvering hedge funds—proving once again that in crypto, patience pays better than any MBA.
Ethereum Accumulation Builds And Market Awaits Breakout
Ethereum is struggling to reclaim the $2,500 level, but its ability to hold steady amid ongoing market uncertainty is a sign of underlying strength. For weeks, ETH has traded within a well-defined range between $2,200 and $2,800, with neither bulls nor bears able to take decisive control. This prolonged consolidation has delayed the long-anticipated altseason, which many believe will only begin once Ethereum breaks above key resistance and pushes into higher territory.
Despite the lack of clear direction, the macro setup is becoming increasingly interesting. Global markets remain volatile, with shifting interest rate expectations, geopolitical risk, and unpredictable liquidity conditions creating mixed signals across risk assets. Yet Ethereum continues to hold firm, supported not just by technical structure but also by significant long-term holder activity.
According to insights from CryptoQuant, a strong accumulation pattern has been detected among Ethereum holders. During the June consolidation phase, long-term investors steadily increased their positions, even as price action remained choppy. This divergence between price and accumulation volume signals growing confidence under the surface. When price consolidates while demand builds, the result is often explosive.
With ETH holding key support levels and long-term accumulation rising, the stage may be set for a major move. If Ethereum can push through $2,500 and reclaim higher ground, it could serve as the ignition point for a broader altcoin rally. Until then, the market remains in a state of quiet buildup. Something big is coming—and Ethereum is at the center of it.
ETH Struggles With Resistance Amid Mixed Signals
Ethereum is currently trading at $2,470 after failing to hold intraday gains above the $2,500 level. The 12-hour chart shows ETH consolidating within a broader range, with $2,200 acting as strong support and $2,800 as key resistance. Despite several bullish attempts, Ethereum has struggled to reclaim higher ground, and the rejection NEAR the 100-period SMA (green line at $2,537) signals persistent selling pressure near resistance.
The price is currently trading above the 200 SMA ($2,170) and just under the 50 SMA ($2,507), which now acts as a short-term resistance. This tight positioning of moving averages suggests ETH is at a decision point—either it breaks through $2,500 to target $2,600 and higher, or it risks rolling over if bulls fail to hold momentum.
Volume remains relatively flat, indicating indecision. The overall structure still favors a neutral-to-bullish bias, especially if price continues to close above the 200 SMA. However, a breakdown below $2,400 WOULD increase the risk of a retest of the $2,200 support zone.
Featured image from Dall-E, chart from TradingView
