Ethereum Approaches $2,800 Threshold: Key Points for Price Rally

Ethereum is attempting to break the critical $2,800 mark, facing buying pressure from investors who wish to cash out at breakeven prices. On-chain data shows significant wallet activity at this level, likely increasing sell pressure. Meanwhile, robust support exists between $2,330 and $2,410. As of now, Ethereum is trading around $2,500, caught between obstacles and opportunities, with the potential for a rally towards $3,000 contingent on overcoming the $2,800 resistance.

Ethereum’s price surge has investors buzzing this week as it gets closer to the crucial $2,800 mark. After facing resistance just below $2,750, the cryptocurrency is now testing this significant level. But, on-chain data suggests that there might be some obstacles ahead, specifically related to a cluster of investors ready to sell at breakeven prices.

In recent months, Ethereum has made quite a comeback, rebounding from an April low near $1,600 and recovering some of the losses from highs around $3,800 seen last December. Data from Glassnode highlights an accumulation of Ethereum held by investors who bought in the vicinity of $2,800. This creates a density of wallet activity at that level, indicating a potential surge in selling as traders aim to exit with neutral returns.

To illustrate this, Glassnode’s heatmap reveals a sizable accumulation just below the $2,800 threshold, implying that Ethereum must convincingly surpass this point to maintain momentum toward $3,000. However, this uptrend may face selling pressure from those who have watched their investments languish at a loss since early 2025. As more investors start looking to offload their tokens, the trajectory of the rally might be capped unless buying demand is strong enough.

Interestingly, the situation isn’t all doom and gloom; there’s significant support below the current price. According to a tweet from crypto analyst Ali Martinez, data from Sentora indicates a robust demand zone between $2,330 and $2,410. Essentially, there are around 2.58 millions addresses here, holding over 63.65 million ETH, making this area a vital cushion for Ethereum’s price.

At the moment, Ethereum’s trading around $2,500, having dipped about 2% in the past day. So, it’s caught between that selling pressure just overhead and the solid demand floor beneath. There’s not much resistance apart from those concerning $2,800 levels, which means that a decisive upward movement could lead Ethereum skyrocketing toward that elusive $3,000 mark.

The central question for investors is whether bullish enthusiasm can breach that resistance or if the market will experience a pullback toward $2,370, which could reset its recent rally.

Scott Matherson, a popular voice in crypto journalism, has a knack for dissecting the market ebb and flow. He covers critical industry shifts, technological advancements, and regulatory issues enough to pique the interest of a broad audience. His insight into crypto trading is often well-received, shedding light on market intricacies.

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So, while Ethereum is gearing up for a pivotal moment, investors should keep an eye on both the possible uptick above $2,800 and strong support regions, as the market shapes its path ahead.