Ethereum Reclaims $2,300 as Whale Wallets Turn Profitable, Fueling $3,000 Hopes

Source

Suehyeon Lee

Summary

Ethereum has reclaimed the $2,300 range, up about 20%% from its March 29 low.
The unrealized profit ratio for whale wallets holding at least 100,000 ETH has turned positive, while long-term investors have accumulated a record 26.3 million ETH.
Ethereum has entered a key test zone with support at $2,140, resistance at $2,400, and selling pressure between $2,750 and $2,850, leaving room for a move as high as $2,900.

Forecast Trend Report by Period

Ethereum has reclaimed the $2,300 level, putting major holders back in profit.

Cointelegraph reported on June 13 that Ether has risen about 20% from its March 29 low of $1,940 to trade in the $2,300 range. The rebound was driven by the US-Iran ceasefire announcement and an improvement in market structure.

On-chain data also points to a shift. CryptoQuant said the unrealized profit ratio for whale wallets holding more than 100,000 ETH has turned positive again. The firm said the metric has previously marked the start of rallies when it moved from losses back into profits.

Long-term investors are continuing to accumulate. According to CryptoQuant, addresses that steadily build Ether holdings now own a record 26.3 million ETH. That is about 32% higher in 2026, even as the token's price fell over the same period.

Technical indicators also suggest rebound potential. Ethereum has formed a rounded bottom on the 12-hour chart and entered a range that reaffirms support at $2,140. A break above resistance at $2,400 could open the way for a move toward $2,900.

Still, supply overhang remains at higher levels. Cointelegraph said about 7.6 million ETH was acquired at average prices between $2,750 and $2,850, raising the prospect that the zone could act as major resistance. The market is focused on whether Ethereum can break above $2,400 in the near term, a threshold that could determine the next leg of the advance.

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