This move confirms that buyers are defending the triangle structure. The key breakout level is around $1,635. If ETH closes above this resistance, the next target sits near $1,932. This target comes from the height of the triangle projected upward.
The RSI has bounced near the neutral 50 level, indicating a shift in momentum toward the bulls.
However, Ethereum still faces another major hurdle: the 200-EMA near $1,756. A clean break above $1,635 and $1,756 would increase the chance of ETH retesting $2,000 before the end of April.
ETH Whales Are Still Accumulating
Despite the recent selloff and Galaxy Digital’s rotation into Solana, not all large players are exiting Ethereum.
According to Glassnode data, addresses holding between 1,000 and 10,000 ETH — often classified as whales — have steadily increased since early 2024. The supply held by these wallets has risen from multi-year lows below 12 million ETH to over 13.5 million ETH as of April 2025.
