Ethereum's price dynamics are currently shaped by historical accumulation patterns. Glassnode's latest data highlights key support and resistance levels.
Short-Term Outlook for Ethereum
Last week, Ethereum briefly dipped below $1.88K, but according to Glassnode, engagement was minimal at this level. Instead, fresh accumulation surfaced at $1.9K, with 600,000 to 700,000 ETH absorbed. This suggests that $1.9K could solidify as a short-term support zone if Ethereum consolidates at current levels. Conversely, the major resistance is at $2.2K, where approximately 465,000 ETH is held.
Six-Month Trend: Accumulation Over Redistribution
A six-month review of Ethereum's price trends shows a pattern of strategic accumulation. Addresses that held ETH at $3.4K in January have gradually adjusted their cost basis downward to $3.1K, collectively holding 1.7 million ETH. Meanwhile, the $1.8K supply cluster, consisting of 1.5 million ETH, has remained largely dormant since November 2024, with renewed activity in March 2025 suggesting revived interest.
Three-Year Perspective: Strategic Buying Patterns
Long-term analysis shows that investors have consistently bought into Ethereum dips without offloading at local tops. Major accumulation zones in the past three years include $2.9K in April 2024, $2.4K in November 2024, and $1.8K in March 2025. This trend indicates long-term holders' confidence in Ethereum's value.
With $1.9K as potential support and $2.2K as resistance, Ethereum's short-term price movements will likely depend on buying interest at these levels.
