Ethereum currently has strong support at $2,200, but one analyst has pointed out that if the level fails, the next region to watch could be $1,160.
On-Chain Data Shows Strong Ethereum Demand Zone Near $2,200
In a new post on X, analyst Ali Martinez has talked about where support lies for Ethereum based on on-chain data. In on-chain analysis, levels are considered as major support/resistance zones if they host the cost basis or acquisition level of a significant part of the ETH supply.
Trending: Listen to This CNBC Anchor Fight to Hold Back Shock as She Reads Out Trump’s Tariff Revenue
The reason behind this lies in the fact that investors are more likely to show some kind of reaction when the retest of their break-even level takes place. This buying/selling is irrelevant to the wider market if only a few holders are
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!