Ethereum is probably on the price floor after the surrender collapsed, according to Glassnode
ETHEREUM (ETH) is likely to reach the bottom based on many scales on the series, according to Crypto Analytics Glassnode.
Glassnode takes a look at the cost basis distribution map (CBD), which shows the number of ETH sites that are broken even at each price level and can be used often to determine the support and resistance areas.
Company He says The scale currently indicates that ETH has strong support at a level of about $ 1886.
“The cost basis distribution to ethereum (CBD) shows the increase of the supply at $ 1886, as it increased from 1.6 million to 1.9 million souls. This indicates a possible and short -term ground where investors accumulate at these levels, which enhances support.”
Glassnode says that the price of $ 1886 is compatible with its ETH “surrender”, which integrates CBD and data on the achieved loss. According to the company’s plan, nails often precede the surrender scale ETH.
Glassnode also is a big leap in Stablecoins supplies, which is often seen as oud for encryption due to the new possible liquidity they bring to the market.
“Since January 1, the total Stablecoin supplies increased by 20.17 billion dollars (+10.9 %), which now reaches more than $ 205 billion.
For comparison, the peak of December was $ 187 billion, but the offer was actually contracted in the last two weeks of 2024 and decreased to $ 185 billion by January 2025. “
At the time of this report, ETH is traded at $ 1890.
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