ETH price is about to face a major test! Analysis and exposure of key support levels
Against the backdrop of intense market volatility in the Ethereum (ETH) market, the analysis of key support levels is crucial. According to data from IntoTheBlock, the current ETH support level presents an eye-catching pattern:
Support level of US$2,700: About 11.11 million addresses hold 59.07 million ETH, and the average currency holding price is US$2,647. This price level could serve as solid support for ETH, suggesting the market has strong buying support in this area. Support level of US$3,000: About 3.69 million addresses hold 1.24 million ETH, and the holding price is close to US$3,000. This price level not only provides immediate support, but also has a psychological impact on the market.
Strong support at $2,700: With a large number of currency holding addresses concentrated at this price, $2,700 may be a key line of defense for ETH prices. If the price hits here, market buying could increase significantly, preventing further declines. The psychological effect of $3,000: Although $3,000 has a certain psychological support for the market, its actual support is weaker than $2,700. Investors should pay attention to how prices perform within these key ranges.
Keep an eye on a support breakout: Watch if ETH can hold firmly above $2,700, which will have a significant impact on short-term price action. Assess market trends: Observe market reactions near support levels to determine future price trends and investment opportunities.
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