Ethereum holders back in profit as ETH price enters 'crucial area' for $3K breakout

Quick Summary:

The market intelligence firm added:“The $2,400–$2,900 range remains a crucial area for Ethereum, acting as both a resistance zone and a potential breakout level essential for maintaining upward momentum.”Popular trader Daan Crypto Trades also said that ETH price must “convincingly break” out of the $2,400-$2,600 range before rising higher to confront high-timeframe resistance between $2,800 and $2,850. “Not looking to do much until we at least convincingly break out of this local range.ETH/USD four-hour chart.

This rally has seen ETH rise above its realized price or cost basis, currently at $1,900, paving the way for a potential rally to $3,000 or higher. ETH holders returning to profit after unrealized losses “provides meaningful financial relief for many holders, signaling a bullish outlook,” Glassnode explained in its latest report.

Historically, during the early phase of a rally, holders in profit provided upward momentum by holding firm and attracting new investors. Further analysis of the cost basis of active market participants indicated the “strength of this upward move” as the price moved above its True Market Mean, or the Active-Investor Price,  at $2,400.

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Article Details

Author / Journalist: Cointelegraph by Nancy Lubale

Category: Crypto

Markets: United States

Topics: Upward Cost Higher Profit Price Range Rally Basis Level Ether’s Resistance

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-21 @ 16:36:16 (14 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 613 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28891342

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