🔥 Ethereum Hits Make-or-Break Zone — Will Bulls Ignite the $3K Breakout?

Ethereum is flirting with a key resistance level, and the next few days could define its short-term fate. After rebounding from April’s low near $1,600, ETH surged to $2,750—but now it’s running into heavy resistance around the $2,800 mark.

Why $2,800 Matters:

On-chain data from Glassnode shows a major cost basis cluster at $2,800. This means a large number of wallets bought ETH at that level and may look to exit at breakeven as prices revisit it.

That’s critical because:

• Sell pressure intensifies when previously underwater holders rush to exit.

• Unless buyer demand exceeds sell-side exits, momentum could stall.

• This could either lead to a short-term pullback or, if bulls break through, a rapid rally toward $3,000.

Heatmap Breakdown:

• There’s a dense supply zone just below $2,800.

• But beneath the current price, ETH has strong support:

• Between $2,330–$2,410, 2.58 million addresses hold 63.65 million ETH.

• This is a solid cushion that could absorb any dip and reignite upward momentum.

Current Status:

• ETH trades at $2,500, down 2% in 24 hours.

• It’s squeezed between heavy resistance above and a powerful demand zone below.

What’s Next?

If bulls can flip the $2,800 wall, there’s little stopping ETH from racing to $3,000. But if the rally fizzles, a healthy pullback to the $2,370 zone could reload momentum for another breakout attempt.

The market is watching. Will demand overwhelm resistance—or will breakeven sellers win the day?

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