DeFi Daily News
Tuesday, July 8, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Cryptocurrency Ethereum

rewrite this title Blockchain Firm Explains Why Ethereum Price Can’t Hold Above $2,700 | Bitcoinist.com

Opeyemi Sule by Opeyemi Sule
May 25, 2025
in Ethereum
0 0
0
rewrite this title Blockchain Firm Explains Why Ethereum Price Can’t Hold Above ,700 | Bitcoinist.com
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Ethereum price is undoubtedly in a better place in recent weeks than it was in the year’s first quarter. However, the “king of altcoins” appears to be stuck in a loop — one involving repeated pushbacks at a specific price level.

After riding the week’s bullish momentum, the Ethereum price faced significant downward pressure above $2,700 and has since crashed to around where it started the week. Below is the underlying factor for ETH’s struggles above $2,700.

What’s Happening To ETH’s Price Above $2,700?

In a May 24 post on X, blockchain analytics firm Glassnode shared fresh on-chain insights into the movement of the Ethereum price over the past few days. According to the crypto platform, the next most significant level for the price of ETH lies at around $2,800.

The rationale behind this on-chain observation is the cost-basis distribution of the ETH supply. The relevant metric here is cost basis distribution (CBD), which reflects the total Ethereum supply held by addresses with an average cost basis within specific price brackets.

Ethereum price

Source: @glassnode on X

As shown in the chart above, the CBD metric uses a heatmap with fixed price bracket levels (on the vertical axis) for a given period (on the horizontal axis). This indicator offers insights into trend shifts in investor cost basis over a specific period.

Glassnode noted that there is a significant cluster of investor cost-basis distribution around the $2,800 Ethereum price level. Basically, this implies that several investors acquired their coins around this price region.

Going further, Glassnode explained that the Ethereum price may witness significant sell-side pressure as it approaches the CBD cluster around $2,800. This phenomenon is based on the propensity of several previously underwater investors to look to offload their assets near breakeven.

This on-chain revelation explains why the Ethereum price has been facing rejection above the $2,700 mark over the past few weeks. For the second-largest cryptocurrency to break above this supply barrier, the demand for ETH around the CBD cluster must outweigh the selling pressure.

However, the Ethereum price could fall to the next support level if it keeps facing significant selling pressure around the $2,800 level. As highlighted by top analyst Ali Martinez on social media platform X, the next major support cushion for the price of ETH lies around $2,380.

Ethereum Price At A Glance

As of this writing, the Ethereum token is valued at around $2,0, reflecting a less than 1% decline in the past 24 hours.

Ethereum price

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from iStock, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: Bitcoinist.comblockchainEthereumExplainsFirmHoldPricerewritetitle
ShareTweetShare
Previous Post

rewrite this title Today's NYT Mini Crossword Answers for May 26 – CNET

Next Post

rewrite this title Crypto Current: AI, Bitcoin & Market Shifts | May 26, 2025

Next Post
rewrite this title Crypto Current: AI, Bitcoin & Market Shifts | May 26, 2025

rewrite this title Crypto Current: AI, Bitcoin & Market Shifts | May 26, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

June 28, 2025
They’re Going ALL IN on Crypto: This is What Wall St is Buying!

They’re Going ALL IN on Crypto: This is What Wall St is Buying!

June 25, 2025
rewrite this title with good SEO Bitcoin Could Explode On Bessent’s 0 Billion Deregulation Shock

rewrite this title with good SEO Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock

May 28, 2025
Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

August 13, 2024
rewrite this title with good SEO Ripple SEC News: XRP Nears Banking License And Faces Critical Support Test – 99Bitcoins

rewrite this title with good SEO Ripple SEC News: XRP Nears Banking License And Faces Critical Support Test – 99Bitcoins

July 8, 2025
rewrite this title Bonk Eyes 1M Holders, plans to Burn 1 Trillion Tokens in Major Milestone Move

rewrite this title Bonk Eyes 1M Holders, plans to Burn 1 Trillion Tokens in Major Milestone Move

July 8, 2025
rewrite this title Slot’s answer to Gyokeres: Hughes lines up Liverpool move for “crazy” CF

rewrite this title Slot’s answer to Gyokeres: Hughes lines up Liverpool move for “crazy” CF

July 8, 2025
rewrite this title with good SEO Ripple CTO Makes Major Revelations: Early XRP Entry, Mined Bitcoins — Here’s The Details | Bitcoinist.com

rewrite this title with good SEO Ripple CTO Makes Major Revelations: Early XRP Entry, Mined Bitcoins — Here’s The Details | Bitcoinist.com

July 7, 2025
rewrite this title and make it good for SEOCGDG ETF: A Global Dividend Grower With Active Edge And Smart Diversification

rewrite this title and make it good for SEOCGDG ETF: A Global Dividend Grower With Active Edge And Smart Diversification

July 7, 2025
rewrite this title Trader Says Matter of Time Before Crypto Breaks to New All-Time Highs, Updates Outlook on Bitcoin, Ethereum and One Other Altcoin – The Daily Hodl

rewrite this title Trader Says Matter of Time Before Crypto Breaks to New All-Time Highs, Updates Outlook on Bitcoin, Ethereum and One Other Altcoin – The Daily Hodl

July 7, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.