According to Foresight News, glassnode data shows that the ETH price broke through from $1,800 to $2,500 due to low concentration of supply in this range. The upward trend was blocked near $2,580, where approximately 1.3 million ETH are held; as the price approaches, the supply drops to 1 million, indicating that holders are exiting near their cost basis.
Glassnode Analysis: ETH price hits resistance after breaking through $2,500
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