Ethereum Faces Resistance as $2,800 Emerges as Key Target

[madtrader]

Ethereum recently climbed to a monthly high near $2,209, but the rally stalled as the price fell back below a key resistance level tested multiple times since February.

Onchain data from Glassnode shows a major accumulation zone around $2,800, where more than 3 million ETH were previously purchased.

This level represents a significant cost basis for many investors, meaning it could act as a magnet for price movement if Ethereum breaks above its current range.

Interestingly, analysts note there is relatively low historical supply between $2,200 and $2,800, which could allow for faster price movement if momentum builds.

[AIcash]

bro 3M ETH bought at 2.8k feels like a giant magnet lmao price better behave