Ethereum Support at $2,200 Critical as Next Level is $1,160
Ethereum has strong support at $2,200. If this level fails, the next key area is $1,160.
On-Chain Data Highlights Ethereum Demand Zone
- Analyst Ali Martinez identified significant support for Ethereum based on on-chain data analysis.
- Support levels are critical if they represent major acquisition costs for ETH holders.
- Investors typically react when their break-even price is tested, especially if many hold at that level.
- The $2,218 to $2,396 range contains the highest supply, with 6.28 million addresses holding 67.2 million ETH.
- If retested, this range could prompt buying activity from profit-holding investors.
- If Ethereum drops below $2,200, it may struggle to maintain momentum, potentially dropping to $1,160, where 35.9 million addresses hold 21.58 million tokens.
Currently, Ethereum's price is approximately $2,475, above the on-chain demand zone.
