Ethereum (ETH) has seen a 12% price decline in the past week, but investors are accumulating, with 12.5M ETH moved off exchanges, signaling renewed confidence. This accumulation could drive ETH toward the $3,524 resistance, with $40B in supply poised to become profitable. ETH is currently trading at $3,264, with $3,327 as a critical resistance level. A breakout above $3,327 could reignite bullish momentum, while failure to breach it risks a drop to $3,028, invalidating the bullish outlook. Accumulation patterns suggest optimism for a potential recovery.