Summary
- An analysis has been raised that Ethereum may face strong resistance around $2800.
- The on-chain analysis firm Glassnode stated that the cost basis of Ethereum investors is concentrated at $2800.
- It warned that as the price approaches this level, the likelihood of selling at the break-even point increases, acting as a psychological resistance for investors.
An analysis has been raised that Ethereum (ETH) may face strong resistance around $2800.
On the 24th, on-chain analysis firm Glassnode stated on X (formerly Twitter) that "the cost basis (average price) level of Ethereum investors is concentrated around $2800." It further warned, "As the price approaches this range, holders who were previously at a loss are likely to sell at the break-even point."
Glassnode added that this price range could act as a psychological resistance level for market participants.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin falls below $71,000…Lowest level since October 2024](https://media.bloomingbit.io/PROD/news/0e5880b9-61dd-49d4-9d2e-c47a3fb33a93.webp?w=250)
