Glassnode: ethereum has a small supply gap in the $1,900-2,200 range, and a short-term rally to $2,200 resistance is reasonable
On 12 March, Glassnode posted data on social media stating that ETH's cost basis distribution shows where potential short-term support levels could form. While the price of ETH briefly fell below the major accumulation area of $1,880, addresses at that level have largely failed to respond to this decline, with a new accumulation range appearing at $1,900 (600,000 to 700,000 ETH).
This suggests that if ETH consolidates at current levels, $1900 could become support. Above that, $2200 (465k ETH stacked) is potentially the next resistance level. the supply gap between $1900 and $2200 is still relatively small, which makes it reasonable for ETH prices to rise to resistance in the short term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
20,000 ETH transferred out from a certain exchange, worth $61.21 million
The probability of "OpenSea launching a token this year" rises to 52% on Polymarket
An exchange accidentally leaked details of OpenSea's $150 millions ICO

A certain exchange once posted "Opensea public sale next week," but later deleted it.
