Ethereum inside major Cost Basis cluster as market weighs next move
According to Glassnode's onchain data, Ethereum is trading within a major cost basis cluster between $2,900 and $3,100, a key breakeven zone for a large share of holders. This dense concentration indicates heightened market sensitivity, where small price moves can significantly influence holder behavior. A secondary accumulation zone exists between $3,300 and $3,500, while support thins below $2,700. Currently trading around $2,930–$2,950, ETH remains below its key moving averages and within a broad sideways range. The market shows muted momentum, with moderated volume, suggesting price discovery is occurring through absorption rather than trend expansion. Onchain positioning indicates participants are still negotiating value without a clear directional catalyst.
ambcrypto01/27 18:40
