Ethereum sits just above $2,400 with 63.3M ETH bought by 2.64M wallets across this key price range.
More than 87% of ETH supply is in profit which shows strong holder confidence at current levels.
If $2,400 remains firm then ETH could push toward $2,664 but a break could trigger fresh selling.
ETH is trading near $2,585 while the $2,400 level stands out as the strongest on-chain support, according to new data. The level holds over 63.3M ETH in volume from 2.64M addresses, making it critical for price stability. With current price above this mark, analysts are closely monitoring its ability to hold under pressure.
Source: X
According to data provided by SentoraHQ and shared by Ali, a dense cluster of buying occurred between $2,354 and $2,430. Most addresses that bought ETH at these levels are still in profit, with 87.19% currently “In the Money.” If $2,400 holds, Ethereum may avoid deeper pullbacks.
$2,400 Support Backed by Strong On-Chain Volume
On-chain metrics reveal that the majority of ETH volume was accumulated between $2,354.58 and $2,430.98. This zone contains the highest density of profitable wallet positions, totaling 63.3M ETH across 2.64M addresses. The average purchase price for this cluster is $2,395.51, marking $2,400 as the fair value anchor.
This support area becomes critical when market volatility increases. In previous pullbacks, Ethereum found stability around major volume nodes where large numbers of holders sit in profit. That behavior is now reflected again, as ETH maintains a position just above this historically active zone.
If price returns to test $2,400, a reaction is likely. Traders often consider this kind of cluster an area of interest due to liquidity and buying power. Whether ETH maintains above it could shape momentum for the next move toward $2,700 or back below $2,300.
Price Structure Shows Balanced Market Behavior
The data also shows 74.61M ETH, worth over $192.87B, is currently in profit. Meanwhile, only 10.85M ETH, or $28.05B, is out of the money. This clear imbalance favors the bulls and suggests market participants remain confident in Ethereum’s near-term price range.
ETH is currently “At the Money” for 111.03K tokens valued at $287.03M, located around the current spot price of $2,585.16. These addresses represent a small portion of the total network but highlight the transition zone between profit and loss positions. It is a psychological midpoint that often precedes directional breakouts.
Traders tend to defend key cost basis zones like this one, especially when tied to long-term positions. The $2,400 range shows strong coverage at 58.58%, confirming that any dip into this range may be met with buying pressure.
Can Ethereum Hold Its Line Above $2,400?
The price of ETH now faces a pivotal moment. Holding above $2,400 will likely confirm the strength of on-chain support and validate bullish sentiment. If this zone fails, a broader shift could occur as more holders move out of profit.
With over 87% of supply held in the money, confidence appears high—yet price behavior must confirm the data. If ETH remains above this base, the next major resistance lies between $2,664 and $2,742. Will Ethereum use $2,400 as a launchpad or test the resolve of long-term holders again?
