Odaily Planet Daily News IntoTheBlock published an article stating that Ethereum faces key resistance at $3,500. Since July 16, Ethereum (ETH) has been struggling to break through the $3,500 resistance level. One of the main factors causing this challenge is that 3.13 million addresses bought ETH at an average price of $3,547. These addresses are in a loss-making holding state, increasing selling pressure and making it difficult for ETH to break through this key level.