Ethereum Price Tests $2,380 as Whales Add $300M ETH

Key Insights

• Ethereum price is testing the $2,375 to $2,380 resistance range.
• Whale wallets accumulated more than $300 million in ETH recently.
• URPD data shows major Ethereum supply zones near $2,772 and $2,921.

Ethereum price traded near a critical resistance zone in early May 2026 as traders watched for confirmation of a breakout above $2,380. ETH continued holding recent gains after recovering more than 30% from its March lows, while whale accumulation and on-chain support data strengthened the broader setup. Analysts now view the $2,375 to $2,380 range as the main trigger that could decide whether Ethereum extends toward $2,550 and $3,000 or retraces toward lower support levels.

Ethereum Price Prediction: ETH Tests the $2,380 Barrier

Ethereum has climbed to the upper boundary of a 4-hour descending channel near $2,375. The area has acted as resistance in earlier attempts, with prior moves from this zone leading to pullbacks toward the lower side of the channel.

Ali Charts noted that ETH crypto needs a daily close above this resistance to confirm stronger upside momentum. If buyers fail to clear it, Ethereum price could retrace toward the channel’s lower boundary near $2,210.

The resistance also sits close to Ethereum’s realized price at $2,380. This level tracks the average price at which ETH last moved on-chain. A move above it would place more holders back in profit and may ease selling pressure.

Momentum has improved since mid-March, when the Ethereum SuperTrend indicator flashed a buy signal.

ETH 1-Day Chart | Source: X

Since then, Ethereum price has gained more than 30%, showing renewed buyer control after a long consolidation phase.

ETH Crypto Daily Close Could Shift the Setup

A confirmed daily close above $2,375 to $2,380 could support a 7% breakout toward $2,550. That level marks the next structural high on the current chart and may become the first upside target.

The UTXO Realized Price Distribution shows the next major supply cluster near $2,772. If ETH clears that area, the next target sits near $2,921, placing the broader $3,000 level within reach.

ETH UTXO Realized Price Distribution | Source: X

Ethereum also has a notable support zone between $2,277 and $1,980. This area shows where a large amount of ETH last moved on-chain, creating a potential base if price pulls back.

ETH whale activity adds another factor to the current setup. Ali Charts reported that large holders accumulated more than $300 million in ETH in recent days, showing stronger positioning near resistance.

Trendline Breakout Adds Momentum Signal

A separate Ethereum chart shared by More Crypto Online showed ETH breaking above a descending trendline on the daily timeframe.

Ethereum traded near $2,379 while testing the upper boundary of a recovery structure that started between $1,600 and $1,821 earlier this year.

ETHUSD 1 hr chart | Source: X

The chart placed the 100% wave extension target near $2,650, which aligns with the first broader upside zone following a breakout confirmation.

Ethereum still faces a wider resistance area between $2,617 and $2,957. This range contains several Fibonacci retracement levels, including the 38.2% retracement near $2,617 and the 50% retracement near $2,958.

Meanwhile, shorter-term ETH/USDT charts showed Ethereum pushing above another descending trendline after several days of range-bound trading. Analysts identified $2,460 as the next short-term target if ETH successfully holds the trendline retest as support.

Failure to maintain support above the broken trendline would weaken the current recovery structure and expose Ethereum to lower support levels again.

Ethereum price now trades near one of its most important resistance zones since March as whale accumulation, improving momentum indicators, and breakout structures continue strengthening the broader setup. Traders remain focused on whether ETH can secure a confirmed close above $2,380 and extend toward $2,550 and $3,000 or face another rejection near overhead resistance despite rising institutional and whale demand.

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