"Ethereum, $1537 is a Key Support Level"

Son Min

Summary

Glassnode stated that the next key support level for Ethereum is $1537.
Ethereum failed to form support at the $1800 range.
Volumes above $2000 are undergoing stop-loss, and it is not significantly impacting the market.

An analysis has emerged that the next major support level for Ethereum (ETH) is at $1537.

On the 31st (local time), Glassnode stated on X, "Addresses that bought Ethereum at the $1800 level have not shown additional buying movements. As a result, Ethereum failed to form support at the $1800 range," and added, "The next major support level is at $1537, where 994,000 ETH were purchased." Furthermore, "The volume of 250,000 ETH bought at $2000~$2050 is undergoing stop-loss by investors," and "Some are averaging down through additional purchases, but it is not significantly impacting the market," they evaluated.

As of 7:11 PM, Ethereum is trading at $1778 on the Binance USDT market, down 3.63% from 24 hours ago.

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