Ethereum (ETH) price is battling major resistance around the $2,800 supply zone, according to Glassnode.
Long-term ETH holders are reportedly near profit levels, possibly leading to increased selling pressure soon.
CryptoQuant data reveals Ethereum’s active address growth has been flat, despite its recent price gains.
Ethereum’s recent upward climb hit a serious snag this week right around the $2,800 mark. Fresh on-chain data from Glassnode suggests this spot is a major supply zone, packed with long-term holder positions where many investors who bought in before the March and April downturns are now close to breaking even or seeing profits. That means selling activity could pick up as these traders look to de-risk or simply cash out.
There is a notable cluster of investor cost basis levels around $2,800 for $ETH. As price approaches this zone, sell-side pressure may increase as many previously underwater holders may look to de-risk near breakeven. pic.twitter.com/ukn2s7cOJo
— glassnode (@glassnode) May 24, 2025
Looking back from December 2024 to May 2025, Ethereum (ETH) took a tumble from above $3,800 to near $1,600. The recovery ride since then managed…
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