Ethereum has regained the $2,300 level, putting large holders back in profit territory.

Cointelegraph reported on April 14 that a renewed attempt to reclaim $3,000 is being discussed on the back of a recent rebound, but strong resistance around $2,800 remains a near-term variable.

TradingView data show Ethereum rose to $2,330 over the weekend, up 20 percent from a local low of $1,940 recorded on March 29. The rebound was attributed to an improvement in market structure alongside a two-week ceasefire announcement by the United States and Iran.

On-chain indicators have also improved. CryptoQuant analyst CW8900 pointed to unrealised profit ratios for wallets holding more than 100,000 ether, saying these whale wallets have returned to profit. He assessed that the shift to whale profitability shows accumulation in a bottom zone and is a signal of confidence among long-term investors.

Long-term accumulation has continued. Accumulation addresses are wallets that only receive ether continuously and do not send it outside. Ether held by such addresses rose to a record 26.3 million ether. Holdings increased 32 percent even as Ethereum's price fell 25 percent over the same period in 2026.

CryptoQuant data show the accumulation started at the end of 2025 and became more aggressive in 2026. Past cases were presented in which prices rose after inflows to accumulation addresses surged. On June 22, 2025, daily inflows exceeded 380 million ether, then Ethereum's price rose nearly 85 percent about 30 days later. A similar price rise followed a surge in inflows in November 2025.

Technical signals leave room for further gains. On the 12-hour chart, Ethereum is forming a rounded bottom pattern, and it was presented as being in a zone retesting a $2,140 support level. That price range overlaps chart support and the 20-day exponential moving average. If buying breaks above resistance at $2,400, a measured target was given at $2,940, which is 32 percent above the current price.

Momentum indicators are also leaning toward a rebound. The daily relative strength index rose to 57 from around 36, which had been near oversold. That is interpreted as a sign that buying is flowing back into the market.

Upper resistance is also clear. Cost-basis distribution data show investors hold about 7.6 million ether in the $2,750 to $2,850 average purchase-price range. That range is a price level where large volumes that have reached breakeven could come out. As a result, if prices approach this area, selling pressure could rise and the uptrend could slow.

Analyst TagadoBTC also cited $2,800 as Ethereum's next major resistance level in a recent post on X. He saw Ethereum heading toward $2,800, its next key resistance. He also mentioned that Ethereum needs to break above $2,400 for more upside toward $2,800.

Ultimately, Ethereum's near-term direction depends on whether it breaks above $2,400 and whether it can absorb supply around $2,800. A shift of large holders back into profit and expanding long-term accumulation are raising expectations for a rebound, but a move above the upper resistance zone is needed for that to translate into an actual trend reversal.

In my opinion, Ethereum is heading toward its next big resistance at $2,800. That corresponds to the bottom of the previous range and there is a good chance of breaking the descending channel in yellow at least for a bull trap. We will then see whether we get a re-entry that allows us... pic.twitter.com/0X0kFXSmb3