Ethereum experienced a significant milestone on April 22, with a record-breaking 449,000 ETH flowing into accumulation addresses. This surge indicates long-term holders’ optimism about Ethereum’s future, despite recent price declines. However, holders in accumulation addresses are currently at a loss, with a realized price of $1,981. Ethereum’s on-chain activity has shown positive momentum, with a 10% increase in active addresses from April 20 to 22, signaling growing network engagement and bullish sentiment. On the other hand, decentralized finance (DeFi) activity, particularly decentralized exchange (DEX) volumes, remains subdued, indicating limited DeFi momentum. Ethereum faces a key resistance at $1,895, with a significant supply concentration at this level. Technical analysis suggests that breaking above this resistance is crucial for a potential recovery. Still, a bearish fractal pattern warns of a possible price decline below $1,400 if market trends turn negative. This article does not provide investment advice, and readers are advised to conduct their research before making any financial decisions.