• ETH may bottom near $1,770 based on realized price and past cycle patterns.
• Whale wallets and new addresses show historic accumulation, signaling potential market support.
• U.S. buying remains weak, making broader market conditions key for sustained recovery.

Ethereum — ETH, has been facing persistent selling pressure recently, dropping below key support levels. Despite this, on-chain data and analyst insights point to potential signs of a floor forming. Fundstrat’s Sean Farrell highlights that ETH could already be near a cycle bottom, using realized price as a key reference. Strong accumulation from whale wallets and new investors adds further evidence. Traders are watching $1,770 closely as a critical level for a potential rebound.

Whale Accumulation Signals Possible Support

ETH is trading around $1,957 after losing more than 1% in 24 hours. Farrell analyzed past cycles to project potential bottoms. In 2022, Ethereum fell about 39% below the realized price before bouncing. In 2025, the drop was only 21% below that level. Applying these patterns suggests ETH could find support near $1,367 or $1,770. Recent trading touched $1,747 on Binance, placing the price close to the higher target.

The realized price reflects the average cost basis for on-chain holders. When the market trades near or below this level, past trends show buying interest tends to increase. Farrell’s track record, including a December 2025 prediction of ETH reaching $1,800, adds credibility to these projections. If ETH remains above $1,300, he expects a potential 80% rally over the next 12 months.

https://info.arkm.com/research/on-chain-analysis-guideOn-chain activity supports the idea of a near-term floor. Investors are buying ETH at historic rates. Over a 24-hour period, more than $490.9 million flowed into newly created wallet addresses, roughly 2.4 times the average. Whale wallets saw $39.2 million in inflows, a 30.7x increase above typical activity. Top profit-and-loss wallets added $46.9 million, and exchange wallets experienced $56.9 million in outflows, signaling strong accumulation.

U.S. Buying Pressure Remains Limited

While accumulation is strong elsewhere, U.S. buying pressure has yet to turn positive. The Coinbase Premium Index, which tracks whether U.S. investors are net buyers or sellers, remains negative. Historically, ETH recoveries gain strength when U.S. buying rises. Early February saw some relief, but net buying has not yet appeared.

At the time of writing, Ethereum trades around $1,957, with volume down more than 11% over 24 hours. Traders are closely watching $1,770 as a potential key support level. Whale accumulation and historic realized price patterns suggest this could be a meaningful bottom. However, broader market conditions and U.S. buying behavior will determine whether ETH can sustain a rebound and move higher.

Ethereum shows signs of stabilization. Whale wallets and new addresses continue building positions. Analysts highlight $1,770 as critical for a potential floor. Investors are monitoring accumulation and market sentiment for signs of recovery.