Ethereum has experienced significant price swings in recent months, compelling investors to actively manage their portfolios. We examine the strategies employed by investors to navigate this volatility.
Current Fluctuations in the Ethereum Market
Ethereum experienced significant price movements recently, peaking at $2,500 before retracting to $2,050, returning to levels last seen in November 2023.
Cost Basis Distribution Analysis
According to Glassnode, the strategic readjustment of positions by investors with an initial cost basis of around $3,500 has helped reduce their average cost. This strategic approach demonstrates a deep understanding of market dynamics.
Key Transactions and Market Movements
On March 1st, about 500,000 ETH were accumulated at an average price of $2,200, with distribution at the local peak of $2,500 following shortly. Additionally, notable resistance is appearing at the $2,800 level, establishing it as a significant recovery point.
The actions of large Ethereum holders significantly influence short to medium-term price trajectory. The observed support and resistance levels provide valuable insights for investment decisions.
