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Glassnode: It is reasonable for Ethereum to rebound to the resistance level of 2200 US dollars in the short term

Glassnode: It is reasonable for Ethereum to rebound to the resistance level of 2200 US dollars in the short term

Bitget2025/03/12 13:12
ETH+2.01%

Glassnode posted data on social media stating that the cost basis distribution of ETH shows potential positions for short-term support. Although the price of ETH briefly fell below the main accumulation area of $1880, addresses at this level hardly responded to this decline, and a new accumulation range appeared at $1900 (600,000 to 700,000 ETH).

This suggests that if ETH consolidates at its current level, $1900 could become a support position. The upper resistance point is potentially at $2200 (accumulating 465,000 ETH). The supply gap between $1900 and $2200 remains small which makes it reasonable for the price of ETH to rise to resistance in the short term.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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