Ethereum Trend Key Points Revealed: Three Levels May Determine Short-Term Direction

The recent price trend of Ethereum has attracted significant attention, and amidst market consolidation, on-chain cost basis distribution data provides important clues for players. Three key price levels have emerged, which may become support and resistance in the short term, impacting the next wave of ETH market movement.

According to the latest on-chain data, the cost basis distribution of ETH shows three price levels worth noting: $1,457 (involving 408,000 ETH), $1,546 (involving 822,000 ETH), and $1,598 (involving 725,000 ETH). Among them, the holding volume at $1,546 is the largest, indicating that a significant number of players have established positions here, which may form strong support in the short term. The $1,598 level, as a high-density area, may become a resistance point for price upward movement. The $1,457 level may serve as a lower support level, and a drop below this could exacerbate selling pressure.

Currently, ETH is in a consolidation phase, and these key levels may have a significant impact on short-term trends. Players need to closely monitor the price reactions in these areas. If the $1,546 support holds, there may be opportunities for a rebound; however, if the upward movement is hindered at $1,598, caution should be taken for potential pullback risks.