From on-chain data, after ETH lost the $3000 support level, market attention has shifted to the $2800 range. CryptoQuant analysts pointed out that this price level is a dense area of "realization price clusters" where a large number of retail investors and whales have recently built their positions. The turnover of chips is sufficient, theoretically providing strong buying defense; at the same time, whales are still accumulating slightly, while the strong liquidation pressure on leveraged longs has noticeably eased, and short-term selling pressure may have been released in stages, creating conditions for $2800 to form a temporary support.

However, it should be noted that:

1. Macroeconomic sentiment (US stocks, US dollar liquidity, policy expectations) may still bring sudden volatility;

2. If $2800 is broken with significant volume, the next dense trading area is around $2650–2700;

3. It is recommended to confirm the effectiveness of support in conjunction with real-time trading volume, perpetual contract funding rates, and large option flows, and not to blindly take large positions on the left side.

In short, $2800 is indeed the first key support level that resonates with current technical and on-chain costs. It is advisable to focus on whether there are signals such as a decrease in volume and a return to positive funding rates before considering entry. Wishing you successful trading and be mindful of risk control.