⬛ Ethereum’s Big 40% Rally — What Happened?
• Between May 8 and May 10, Ethereum surged from $1,808 to $2,600
• Main reason: The Pectra upgrade, which improved staking limits and wallet features
• Risk appetite returned to crypto after weeks of sideways movement
• ETH broke above $2,500, but the rally slowed down soon after
⬛ Glassnode Reveals the Sell Wall Problem
• On-chain data from Glassnode explains why ETH couldn’t go higher
• ETH moved easily from $1,800 to $2,500 because there wasn’t much selling pressure in that zone
• But near $2,580, a huge sell wall of 1.3 million ETH appeared
• This is ETH that investors wanted to sell, limiting further price growth
• As ETH approached $2,580, many holders sold their coins to take profits
• The sell wall has now shrunk to 1 million ETH, but it's still a big resistance level
⬛ Current ETH Price & Market Sentiment
• ETH price is now around $2,539
• Down 2.14% in the past 24 hours
• Crypto market saw $606 million in liquidations, showing traders are taking profits
• Sellers are still stronger than buyers near $2,500–$2,580
⬛ Key Levels & Next Possible Moves
• If ETH stays above $2,435, bulls might attempt another rally
• Next challenge is to break the $2,580 resistance
• After that, ETH can aim for $2,850 and then the psychological level of $3,000
• But if ETH drops below $2,320, more downside is likely
• The next big support is at $2,110, where bulls could defend prices
⬛ Why Is $2,580 So Important?
• Many traders bought ETH near $2,580 in the past
• They want to sell at breakeven or small profit
• This creates strong resistance — lots of sell orders at that level
• ETH needs high buying volume to break through this zone
⬛ What Could Help ETH Break Higher?
• Positive news about Ethereum upgrades or ETFs
• Overall crypto market rally (led by Bitcoin)
• Decreased selling pressure from large holders
• Fresh demand from institutional investors
⬛ Simple Summary for Everyone
• ETH had a great rally but now faces a "wall of sellers" near $2,580
• Bulls are trying to break through, but it's not easy
• If ETH stays above $2,435, another push higher is possible
• However, a break below $2,320–$2,110 could trigger more drops
• The road to $3,000 depends on clearing the $2,580 sell zone