Ethereum $1,912.51has reached an important point in terms of metrics and investor behaviors. Analysis data show that ETH price may have reached a possible bottom point. Especially according to Glassnode’s evaluations, investor accumulation at certain price levels draws attention. The dollar level of $ 1886 is thought to create a short -term support point. The general liquidity status of the market stands out as one of the factors affecting Ethereum’s price movements.
Ethereum’s concentration at $ 1886
Blockchain analysis, Glassnode, examined Ethereum’s Cost Basis Distribution (CBD) heat map. This map identifies the cost bases of investors and reveals the support and resistance zones of the price. According to data, Ethereum investors are particularly concentrated around $ 1886.
This indicates that the price can find strong support at this level. Looking at the past data, it is seen that the price tends to recover after the accumulation of investors at similar levels. The purchase of ETH at certain levels of investors is psychologically supported at these levels.
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Ethereum’s current transaction price is about $ 1890. Historically similar levels of concentrations, the price of the price to create the ground had prepared the ground. Therefore, the movements of investors in this region may be critical for the short -term price direction of ETH.
The increase in stablecoin supply affects Ethereum
The increase in stablecoin supply stands out as an effective factor in Ethereum’s price movements. According to Glassnode’s report, the total stablecoin supply has increased by about 20.17 billion dollars since January 1, increasing 10.9 %. This rise reveals that the new liquidity entering the markets has increased.
Stablecoins entering the market shows that the purchasing power of investors has increased. More liquidity is seen as an important element that can trigger price movements in crypto money markets. Ethereum is likely to take its share of this mobility.
Capitulation Metric is another indicator that supports Ethereum’s possible bottom level. According to Glassnode’s data, similar metric movements in the past triggered the rise in the price of Ethereum. Under current market conditions, investors are considered a possible scenario to turn to ETH using stablecoin liquidity.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
