Ethereum is trading around $2,230, resisting the broader market correction after falling more than 7% on Thursday, while analyst Crypto Capo says the fractal move from 2025 could lead to a bullish continuation. Large holders are accumulating ETH: one whale withdrew 18,550 ETH worth more than $42 million in five days, while Bitmine added 5,000 ETH and now holds 4.96% of the total supply. The $2,200 level matches the average cost basis of accumulation addresses, while the Fear & Greed Index has risen to 45 from 35 a week ago and 27 a month ago. Retail investors had previously abandoned Ethereum during the capitulation in June 2026 before it rebounded by more than 40%, supporting the possibility of a new floor around $2,200. A break above that zone would target $2,425, but a loss of $2,200 would expose $2,000 and then $1,900, although whales still maintain a slightly negative aggregate position.
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