Ethereum climbed above $2,630 on Friday as whale activity picked up and the network's count of non-empty wallets reached a record 207.17 million, according to analytics platform Santiment. The non-empty wallet metric counts every address holding an ETH balance and is commonly read as a gauge of adoption breadth.

The asset reclaimed both $2,500 and $2,560 during the advance, placing $2,620-$2,640 at the center of the current breakout zone, with $2,660-$2,680 now coming into view. Momentum indicators remained elevated, with the relative strength index (RSI) at 71.31 and the MACD still positive, while $2,600 and $2,500 stand as nearby support if momentum cools.

Holder Base Hits Record as Whale Transactions Rise

According to Santiment Intelligence, Ethereum moved above $2.63K on Friday, reaching its highest market value since January. Whale transactions increased at the same time as large holders grew more active during the move higher — transfers that on-chain analysts track as a window into how the largest wallet cohorts behave during price moves.

The network also registered 207.17 million non-empty wallets, a record for Ethereum. More than 40 million ETH remains staked, locked under the network's proof-of-stake design in exchange for rewards, and pooled staking allows smaller holders to earn rewards without operating their own validators. Ethereum additionally secures roughly $50 billion in DeFi total value locked, a measure of capital deposited across the on-chain protocols that make up its stablecoin, lending, DEX and liquid-staking markets.

ETH Reclaims $2,500 as Rally Extends

Ella, a partner at LBank, said ETH traded near $2,436 before moving above $2,620. The recovery through $2,500 changed the trading range, and $2,560 then gave way with little pause.

Ella is now watching the $2,620-$2,640 area. She said a 30-minute close above that range would keep $2,660-$2,680 in play. She also identified $2,560 as the first level buyers need to defend if the rally cools, with a move below it bringing $2,500-$2,520 back into focus.

Technical Indicators Show Elevated Momentum

On the 4-hour chart, ETH stood at $2,627.18, within a session range of $2,611.71-$2,630.25. The recent move recovered quickly from the $2,380-$2,400 area and reached the $2,630 zone, carrying ETH above the $2,500 psychological level while testing recent highs near $2,630.

The RSI printed 71.31, above the 70 overbought threshold that technicians use to flag stretched momentum. The MACD remained bullish, with the line at 40.07 versus 17.34 for the signal line and a histogram reading of 22.73, a setup that reflects the faster line holding above the slower one. Volume also expanded during the breakout.

Resistance sits near $2,630, followed by $2,650-$2,700, while support is located at $2,600, $2,500 and around $2,400.