Ethereum price surged above $3,000 amid an overall crypto recovery. However, even though ETH price climbed above $3,126, on-chain data shows that the coin is facing a significant hurdle at the $3,200 level. Approximately 2 million addresses bought and sold ETH at this price and are currently at a loss, perhaps ready to sell as they rebalance. 📉 Positive news could prevent a downward reversal for ETH. Ethereum ETF is expected to deliver further gains.#cryptonews#ETH