ETH On-Chain Data and Adam & Eve Pattern Signal Potential Move Toward $2,473–$2,634

Ether traded below $2,000 in February as long-term holders increased exposure, with accumulation addresses adding over 2.5 million ETH and pushing total holdings to 26.7 million ETH, while staking locked up more than 30% of circulating supply and weekly transactions reached 17.3 million, CryptoQuant data show. On the four-hour chart, an Adam and Eve bottom pattern places a key neckline near $2,150, with traders watching for a breakout that could target the $2,473–$2,634 zone, while invalidation risk sits around recent lows close to $1,909, based on TradingView data. Derivatives metrics show open interest near $11.2 billion and elevated leverage, with Hyblock and CoinGlass analytics highlighting stacked short liquidation bands above $2,200 totaling more than $2 billion and long liquidation clusters around $1,800. Market participants are tracking shifts in ETH staking ratios, changes in open interest across major futures venues, and liquidation heatmaps in the $2,200–$2,400 region as they gauge whether rising on-chain activity and constrained liquid supply can support a sustained upside break.