Over 1.9M Ethereum Positioned Between $1,457 And $1,598 – Can Bulls Hold Support?
Ethereum is trading above $1,500 amid volatility and global trade uncertainty. Macroeconomic tensions, including tariffs and weakened investor sentiment, are impacting crypto markets. Despite a recent price bounce, Ethereum shows signs of a broader downtrend, with bulls struggling to reclaim key resistance levels. If bulls push ETH above immediate resistance zones, a bullish momentum shift may occur. Key cost basis levels identified by Glassnode include $1,546, with 822,440 ETH accumulated there, which is critical for potential recovery. Other significant levels are $1,457 (408,000 ETH) and $1,598 (725,000 ETH). These clusters may act as support or resistance during price consolidation. A breakout above $1,600 could lead to a move toward $1,800. Currently, Ethereum's outlook remains cautiously neutral, with the need for bulls to reclaim higher levels to challenge the downtrend.
