$ETH According to the Cost Base Distribution (CBD) chart for Ethereum, the concentrated supply is marked at $1,895.50, where 1.64 million ETH is held by investors who bought in November 2024. This level, identified as a potential resistance threshold, may witness selling pressure as holders might try to break even or take profits.

Based on technical analysis, $1,895 continues to be confirmed as a strong resistance level. The price fluctuates near the 50-day Exponential Moving Average (EMA), an important trend reversal indicator. Failing to surpass this EMA line could signal the next bearish momentum, while continuous growth could bring hope for the bulls.

However, Ethereum remains in a downtrend on higher time frame charts, with no clear signs indicating a bullish reversal. A daily close above $2,142 is essential to create potential recovery, breaking the pattern of lower highs and lower lows.

Nevertheless, anonymous trader Rektproof warns of an emerging bearish fractal, a pattern that previously led to significant declines. This suggests that Ethereum may face another rejection and drop below $1,400 if the market begins to trend downward again.