Key Support Line Formed at $3,434
Cryptocurrency analyst Ali (X: @ali_charts) cited glassnode data and analyzed Ethereum's (ETH) major price resistance and support levels yesterday.According to the analysis, Ethereum's main resistance zone is currently formed between $3,877 and $3,987, with $3,987 specifically identified as the next key resistance level.
Meanwhile, on the downside support line, a strong buying trend was observed at the $3,434 level.
This analysis was based on the current supply distribution of ETH and is known to reflect the market participants' position status.
Choi Joo-hoon joohoon@blockstreet.co.kr