Recent price movements of Ethereum indicate stable support in the range of $2,513 to $2,536, driving investor activity in this region.
Formation of $2.5K Support Zone
Currently, more than 3.45 million ETH are consolidated between $2,513 and $2,536, confirming the significance of this level as a support zone. The bounce off ~$2,533 and subsequent stabilization around $2,926 serve as indicators affirming the strength of this level.
Short-term ETH Price Trends
Following a pullback from the support zone, Ethereum's price approached $3,025 but encountered selling pressure. As of now, ETH is valued at approximately $2,926.89 with some resistance at the $3,000 level, confirming the strength of the $2.5K level.
ETH Cost Basis Trends and Investor Confidence
The ETH cost basis distribution suggests renewed investor confidence, with over 3.45 million tokens concentrated at this level, creating a psychological and technical support that could influence future price dynamics.
With the ongoing pressure and support at the $2.5K level, Ethereum shows potential signs for further growth. Investors confidently maintain their positions, strengthening the foundation for future market movements.
