Ethereum Hits Make-or-Break Zone — Can Bulls Ignite a $3K Breakout?
#ETH #CryptoUpdate #EthereumWatch #MarketPullback
Ethereum is testing critical levels as it flirts with the $2,800 resistance — a psychological and technical zone that could define the next major move.
ETH Recap:
Current price: $2,500 (down 2% in 24h)
Key resistance: $2,800
Critical support: $2,330–$2,410
What’s Happening?
ETH bounced back strong from April lows near $1,600, recovering nearly 50% of its losses from the December 2024 top at $3,800. But it now faces a major hurdle.
According to Glassnode, a large cluster of ETH investors bought at the $2,800 level, meaning many are now sitting at break-even. This "cost basis cluster" may trigger profit-taking or neutral exits, leading to increased sell pressure right as ETH approaches resistance.
What Bulls Need to Watch:
$2,800 Resistance: Heavy wallet activity suggests many may sell here.
$3,000 Target: If bulls break above $2,800, there's little technical resistance up to $3K.
$2,330–$2,410 Support Zone: Over 2.5 million addresses hold 63.6M ETH here — this is the safety net.
Key Question:
Will momentum overpower the $2,800 exit zone, or will ETH dip toward $2,370 before another push?
Stay sharp — this week’s move could set the tone for June.