Ether (ETH) was trading around 30% below its yearly opening high of $2,990 as investors become increasingly risk averse in the face of global conflict and macroeconomic uncertainty.

Still, increased network usage and increasing inflows into ETH accumulation addresses could create a spark that could see the price finally break through the resistance at $2,200.

Key takeaways:

• ETH held in accumulation wallets has increased by 32% since January, showing powerful long-term confidence.

• Staked ETH reaches a record high of 37.85 million, representing over 30% of the supply.

• Analysts say ether bulls need to reclaim $2,200 as support

Accumulator address escalate by 6.5 million ETH

Although the price of Ether has fallen in 2026, network activity has increased, with the number of daily energetic addresses (DAAs) increasing to 1.1 million in February, the highest level since December 2022. DAAs increased by 80% to 672,170 from 370,390 in the last seven days.

“The increase in the number of active ETH addresses indicates bullish market movements” – CryptoQuant CW8900 analyst he said in a QuickTake note on Friday.

The chart below shows that activity has increased most significantly following the recent drop in the price of Ether below $2,000.

“This means that accumulation activity was the most active,” the analyst added.

Similar activity has been consistently observed near macro lows since 2022, preceding significant ETH price increases.

Additionally, daily inflows to accumulation addresses have been rising steadily since mid-2025, reaching a record high of 1.14 million ETH in November 2025. In 2026, inflows continued to escalate, reaching an average of 200,000 ETH per day, and peaked at over 350,000 on Thursday.

As a result, the amount of ETH held in accumulator wallets or holders with no sales history increased by 6.5 million to 26.55 million from 20.1 million as of January 1, an escalate of 32%.

The supply of ETH held in accumulation addresses is an critical indicator for traders and market participants because it reflects overall confidence in Ether’s long-term prospects.

The total value of ETH staked further strengthens this perspective. The supply of staked Ether hit an all-time high of 37.85 million this week, signaling growing investor confidence and tighter liquid supply. This represents over 30% of the total ETH supply.

The growing supply also indicates that a vast percentage of investors are preparing to hold their ETH for longer.

As Cointelegraph reported, the supply of Ether held on exchanges fell to a recent multi-year low of 3.46 million ETH, which further tightened the available liquidity on the order books.

Ether price needs to move $2,200 to support

Data from TradingView shows that ETH is trying to break the resistance at $2,100-2,200 that has suppressed its price over the past month.

“This has been an important price area in the last few years of price action for Ethereum” – Daan Crypto Trades analyst he said in X’s last post.

The last time ETH/USD regained this level was in May 2025. It was up 24% in less than a week. In June 2025, it served as the starting point for the ETH price to surge 126% to its current all-time high of $4,950 reached in August 2025.

The key area to watch on the downside is $1,750-$1,850, which if lost could extend the downtrend to as much as $1,000.

“I assume that once this breaks either side of the range, there will be a big move,” Daan Crypto Trades added.

This support area coincides with the uptrend line that has kept the price on the weekly chart since 2022.

Technical analyst Prof said maintaining this support would then trigger a retest of the 21-week exponential moving average at $2,700, or 22% above the current price.

As Cointelegraph reports, a decisive break above the resistance at $2,100 and the 50-day EMA at $2,200 will see the bulls hit the $2,600 target next.