Ether (ETH)’s rebound to $2,300 over the weekend returned huge investors to profits, but is this a sign that ETH could rise to $3,000?

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

The recovery was fueled by the US and Iran announcing a two-week ceasefire and strengthening the market structure. The rebound also pushed ETH whales to profitability, according to CryptoQuant data.

ETH whales’ unrealized profit indicator shows wallets holding over 100,000 ETH are “profitable again,” says CryptoQuant analyst CW8900 he said in Monday’s Quicktake note, adding:

“In the history of $ETH, every point where they went from a loss to a profit was the starting point of a rally.”

ETH investors are doubling down on their purchases

The change in whale yields indicates accumulation at lower levels, which signals long-term investor confidence.

Data from CryptoQuant can be seen that ETH accumulation began in slow 2025 and continued more aggressively throughout 2026.

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

As a result, the total ETH held by these long-term holders reached a record amount of 26.3 million. This represents a 32% augment in 2026, despite a 25% drop in the ETH price over the same period.

Immense spikes in inflows to these addresses often signal high confidence in Ether’s long-term potential, with past trends showing that such spikes often precede price increases.

For example, on June 22, 2025, Ethereum accumulation addresses recorded the then-highest daily inflow of over 380 million ETH. Almost 30 days later, the price of ETH increased by almost 85%. A similar price augment followed a surge of funds into accumulation addresses in November 2025.

Ether’s technical configuration indicates $3,000

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

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

The daily relative strength index (RSI) rose to 57 from a near oversold level of 36, suggesting that ETH bulls are returning to the market.

However, ether cost base distribution data shows that investors hold approximately 7.6 million ETH at an average cost of $2,750 to $2,850, creating a potential resistance zone. This concentration suggests that many investors may sell once breakeven is reached, potentially hampering Ether’s upward momentum.

“In my opinion, Ethereum is heading towards the next big resistance at $2,800.” he said TagadoBTC analyst in a recent post on X, adding:

“The $2,000 zone remains the one that must be maintained, otherwise we risk returning to the bottom of the channel.”

As Cointelegraph reports, Ether’s upside potential will improve once the altcoin breaks above the $2,400 resistance level. If this happens, the ETH/USDT pair could rise to $2,800.