Ethereum is trading above $1,500 amid market volatility and trade uncertainties. Key price levels identified by Glassnode’s Cost Basis Distribution are crucial for determining bullish momentum, with significant clusters at $1,457, $1,546, and $1,598. Despite challenges, analysts suggest recovery may be possible, provided conditions improve. Watch for trading signals around resistance and support levels as future price movements unfold.
Ethereum is currently trading above the $1,500 level amidst ongoing market volatility and global trade uncertainty. Macroeconomic pressures, such as tariffs and changing policies, continue to impact the cryptocurrency sector, creating a challenging environment for bullish recovery. Although the price action suggests an overarching downtrend, there are opportunities for bullish momentum if key resistance levels are surpassed.
According to Glassnode, Ethereum’s Cost Basis Distribution identifies three crucial price clusters influencing short-term actions. The most pivotal level is at $1,546, where over 822,000 ETH were accumulated. Successfully holding or breaking above this level could serve as a foundation for a broader recovery.
Since peaking in February, Ethereum has lost over 50% of its value, currently trading just above $1,500. Although market signs indicate potential recovery, the price movement remains inconsistent, testing investor optimism. Optimistically, analysts believe increased bullish momentum could arise if macroeconomic conditions improve.
Glassnode’s analysis outlines key price clusters that could impact Ethereum’s near-term movement. Approximately 408,000 ETH were acquired around $1,457, while 725,000 ETH sit at $1,598. These clusters reveal zones of significant on-chain activity likely to function as support or resistance during price consolidation. A breakout above $1,600 could propel prices towards $1,800 or higher.
Currently at $1,580, Ethereum has struggled to exceed the $1,700 resistance, indicating weak bullish momentum. For a genuine recovery phase, ETH needs to surpass the 4-hour 200 MA and EMA, situated near $1,820. An effective move above these indicators could indicate renewed market confidence.
Nevertheless, there risks further declines if Ethereum loses support at $1,500, which may lead to an acceleration of selling pressure, potentially testing the $1,400 mark. With persistent macroeconomic and trade uncertainties, investors are adopting a cautious approach. The forthcoming trading sessions will prove critical as Ethereum navigates between recovery prospects and the potential for renewed downturns.
Traders should pay close attention to volume fluctuations and responses around the critical $1,700 and $1,500 levels to gauge future price movements.
