Blockchain analytics firm GlassNode has identified three key Ethereum price levels that can form short-term price actions based on cost-based distribution data. Their analysis shows that a large amount of ETH is accumulated at certain price ranges. This could create critical technology zones as cryptocurrency consolidates.
Cost Basis Distribution data highlights three key levels likely to shape short-term #Ethereum price action:
🔹$1,457 – 408K $ETH
🔹$1,546 – 822K $ETH
🔹$1,598 – 725K $ETHThese zones may act as near-term support and resistance as price consolidates. pic.twitter.com/7NAz1CVfEj
— glassnode (@glassnode) April 16, 2025
According to GlassNode, these zones could act as short-term support and resistance so that prices are integrated. Additionally, statistics reveal that the majority of purchases came at $1,546, with over 822,000 ETH traded. There were also major purchases for $1,598 (725,000 ETH) and $1,457 (408,000 ETH). These numbers highlight potential buying interest if Ethereum hits these levels. This is due to the fact that buyers at these levels prefer to cover their costs to avoid losses. The $1,546 level is notable since recording a massive purchase of ETH.
ETH faces a critical level amidst market uncertainty
Ethereum is currently under sales pressure with a loss of 4.5% over the last 24 hours. However, last week it increased by 6.2%. Despite the second half of the price, some analysts remain positive. Crypto analyst Bell said ETH is quietly building something special, pointing to a neat weekly structure and excellent level of support.
Similarly, another analyst, Cryptogoos, said, “ETH sellers are tired. The magical gathering will come soon!” Carl Moon has identified a “down channel” breakout that could reach Ethereum as $3,000 if enough volume is achieved.
Year-round performance remains difficult, with ETH down 49.2% over the past 12 months. However, this can also mean that assets are sold too much and setting up a potential rebound situation.
Related: Ethereum holders find large yields (20%+) in defi vaults as ETH integrates
Additionally, if $1,546 in support is retained, it could be the basis for an upward movement to $1,598. However, if you fall below $1,457, you could potentially get more sales as traders could be kicked out at that point. As ETH integrates, these cost-based levels provide important insight into how market participants may respond. With that in mind, Market Observers are looking forward to it.
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