$ETH and the "selling pressure" area $2,800!

According to the Cost-Basis chart from Glassnode, there is a massive supply cluster at the $2,800 area – where many investors previously bought ETH. This is an important resistance level in the short term.

If ETH breaks and holds above $2,800, it could very well open up a new bullish trend!

However, if it cannot break through, the profit-taking selling pressure could cause ETH to adjust in the short term.

Stay tuned! $2,800 is the critical area for the current market sentiment!