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Ethereum: Signs point to 2022-like consolidation ahead
By Ritika Gupta
April 25, 2025
The price of Ethereum (ETH) has been trading below its realized price, indicating that the average holder is in a net unrealized loss position. This phenomenon has historically led to correction or consolidation phases in the market. As the asset continues to trade near $1,760, it appears likely that ETH will not be immune to this trend.
In 2018, during a similar scenario, Ethereum’s price action remained range-bound below $2,200 before eventually breaking through resistance levels in Q1 2024. This consolidation phase was characterized by the absence of new highs and limited market volatility.
As the data suggests, it is crucial for investors to acknowledge that unless ETH reclaims and sustains levels above its realized price, the path of least resistance remains sideways to slightly bearish. Any rally toward $2,000 may encounter profit-taking from underwater holders, which would reinforce that level as a key overhead resistance zone.
However, recent on-chain activity has revealed a quiet yet remarkable pattern emerging deep within Ethereum’s on-chain data. A surge in inflows to specific groups of wallets, those that have never sold and follow strict accumulation-only behavior, is taking place. Over the last 48 hours, more than 640,000 ETH has flowed into these addresses, marking the largest inflow since 2018.
This development suggests that these silent hands might be signaling something that the market has yet to price in. Therefore, Ethereum could be entering a 2022-2023 consolidation phase.
Source: https://ambcrypto.com/ethereum-signs-point-to-2022-like-consolidation-ahead/
