Source: Cointelegraph.com NewsKey points:<\/p>\n
Ethereum holders are back in profit, increasing chances for a rally to $3,000 and beyond.
\nEther sell pressure risk exists at $2,800, where 2.27 million ETH could be sold.<\/p>\n
Ether’s recent surge to $2,700 on May 14 pushed its value above its realized price, implying that the average holder of ETH is \u201cnow back in an unrealized profit,\u201d according to Glassnode. Source: Cointelegraph.com NewsKey points: Ethereum holders are back in profit, increasing chances for a rally to $3,000 and beyond. Ether sell pressure risk exists at $2,800, where 2.27 million ETH… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129721"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129721"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129721\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129721"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEthereum trades above its cost basis
\nData from Cointelegraph Markets Pro and TradingView shows that Ether\u2019s (ETH) price has risen by more than 52% to a three-month high of $2,700 on May 14 from $1,800 on May 7, fueled by excitement around the Pectra upgrade.
\nThis rally has seen ETH rise above its realized price or cost basis, currently at $1,900, paving the way for a\u00a0potential rally to $3,000 or higher.\u00a0
\nETH holders returning to profit after unrealized losses \u201cprovides meaningful financial relief for many holders, signaling a bullish outlook,\u201d Glassnode explained in its latest report.
\nHistorically, during the early phase of a rally, holders in profit provided upward momentum by holding firm and attracting new investors.\u00a0
\nFurther analysis of the cost basis of active market participants indicated the \u201cstrength of this upward move\u201d as the price moved above its True Market Mean, or the Active-Investor Price,\u00a0 at $2,400. This indicates fresh capital inflows into the market at higher prices.\u00a0
\nAs Cointelegraph reported, holding above $2,400 was crucial to ensure a potential $3,000 retest.
\nEthereum: Key pricing levels. Source: GlassnodeDespite Ether\u2019s recent outperformance, Glassnode analysts noted that the Active Realized Price still sits overhead around $2,900 and remains a key level that must be \u201cdecisively reclaimed to support continued improvement in investor confidence\u201d in the altcoin.
\nThe market intelligence firm added:
\n\u201cThe $2,400\u2013$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.\u201d
\nPopular trader Daan Crypto Trades also said that ETH price must \u201cconvincingly break\u201d out of the $2,400-$2,600 range before rising higher to confront high-timeframe resistance between $2,800 and $2,850.\u00a0
\n\u201cNot looking to do much until we at least convincingly break out of this local range.
\nETH\/USD four-hour chart. Source: Daan Crypto Trades2.27 million ETH at $2,800 could trigger a sell-off
\nAccording to Ether\u2019s cost basis distribution data, investors hold approximately 2.27 million ETH at an average cost basis of $2,767, creating a potential resistance zone. This concentration suggests many investors may sell at break-even, potentially stalling Ether\u2019s upward momentum.
\nEthereum cost basis distribution chart. Source: GlassnodeFrom a technical perspective, ETH must flip the $3,000 resistance level into support to target higher highs above $4,000.
\nBut first, the ETH\/USD pair must close above the $2,600-$2,800 range, where the 100-day and 50-day simple moving averages (SMA) currently sit. ETH price dropped below this level in February, driven by risk-off sentiment following Trump\u2019s tariff measures.\u00a0
\nETH\/USD weekly chart. Source: Cointelegraph\/TradingView\u200b\u200bOne positive catalyst for the bulls could be continued demand from spot Ethereum ETFs. Ether ETFs registered $100.7 million in net inflows in the last three days, per Farside Investors\u2019 data.
\nMeanwhile, the bears will attempt to keep the $2,600 resistance in place to increase the likelihood of pulling the price lower. The immediate target is below the $2,400 level, or the 200-day SMA.
\nBelow $2,400, the next key area of interest remains between $2,200 and the psychological level at $2,000. Reaching $1,800 would erase all the gains made after the Pectra upgrade.
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"