Ethereum experienced historic inflows into accumulation addresses, with a record 449,000 ETH deposited on April 22, when the price dropped to $1,400. Active addresses increased by 10%, indicating heightened network engagement, yet decentralized finance (DeFi) activity continued to weaken, as DEX volumes remained low. The realized price for these accumulation addresses stands at $1,981, suggesting that many holders are currently at a loss given the recent price decline. Ethereum's on-chain activity has shown positive signs, yet there are growing challenges, especially with key resistance identified at $1,895, where significant ETH holdings may lead to selling pressure. The market sentiment reflects a struggle, as Ethereum remains in a long-term downtrend with potential for further declines unless it can break above critical price levels. Analysts suggest that without a daily close above $2,142, there are risks of further bearish momentum. Overall, while the inflow indicates optimism from long-term holders, the technical outlook remains cautious as Ethereum navigates these market dynamics.

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