Key Takeaways:
Ethereum (ETH) resistance zone: $3,877–$3,987
Major support level: $3,434
Analysis based on Glassnode on-chain data
Price action influenced by chip distribution trends
Ethereum is currently facing a critical resistance range between $3,877 and $3,987, while maintaining key support at $3,434, according to on-chain data cited by crypto analyst @ali_charts via BlockBeats.
The analysis, derived from Glassnode’s chip distribution metrics, indicates that a significant number of ETH holders acquired their positions within the $3,877–$3,987 range, making it a potential zone of selling pressure if Ethereum tests those levels.
Conversely, the $3,434 level is identified as a strong support, where a large cluster of addresses is holding ETH at a profit, suggesting buyers may step in to defend the price if it declines.
The technical outlook suggests that a breakout above $3,987 could open the door for higher upside targets, while a breakdown below $3,434 could signal a deeper correction in the short term.
