Ethereum Sees Early Recovery Signs Amid Bullish Momentum and Slowing Whale Accumulation

Ethereum has been experiencing a period of consolidation, with its price trading within a tight range between $2,150 and $2,300. This trend follows months of decline, which saw the asset's value drop from near $5,000 in August to its February bottom.

The current market phase is characterized by capital inflows, reduced supply pressure, and steady ecosystem growth, as noted by CryptoQuant. These combined factors are positioning ETH as relatively stronger during this period.

However, the pace of whale accumulation has slowed down, which may signal the end of the recent accumulation phase. Historically, such phases often precede upward price movements, but they can also mark transition points where large holders begin distributing assets at higher levels, creating uncertainty around the next market direction.